Full throttle for October

Celebrating wins and driving industry trends

Buckle up for this month’s edition of Auto Insights - your go-to on navigating the twists and turns of the automotive world! We’re hitting top gear with insights on Indian-built cars leading the under-R300k market and share details on how younger buyers are reshaping the auto finance landscape. As we cruise through 2024, we look at sales challenges and catch all the action from the 2024 SA Auto Week. Plus, don’t miss out on information about Lightstone’s latest Signio enhancement tools like RiskMonitor and Signio’s Costing Sheet, designed to put subscribing dealerships in control of operations. Shift into gear and explore what’s important for the industry!

Indian-built cars lead under-R300k segment in 2023

Indian-built light vehicles dominated South Africa's sub-R300 000 market in 2023, making up 70% of the 108 000 units sold through dealer networks. These vehicles continue to stand out, with an impressive 86% value retention expected after two years. Read more to see how they compare with vehicles manufactured in other countries.

Soft September new vehicle sales sign of weaker market

New vehicle sales in South Africa saw a 5.8% decline for the first nine months of 2024 compared to 2023, with a total of 377 882 units sold. While passenger vehicle sales grew slightly by 1.8% in September, Light Commercial Vehicles sales dropped by 17.1%. The Crossover/SUV body shape remains the top seller, and hybrid and electric vehicle sales surged by 109%.

Younger car buyers have a bigger appetite for finance

Lightstone’s Signio data reveals a shift in the vehicle finance market, with buyers under 30 now making up 15% of financed new Light Vehicle sales, up from just 2% in 2017. The 31-40 age group is now the largest segment at 29%, while older buyers (51-65) have seen their share drop to 26%.

Lightstone brings data insights and impact to SA Auto Week 2024

Lightstone Auto made its mark at the 2024 South African Auto Week, hosted by naamsa at the Cape Town International Convention Centre. The event focused on key trends shaping the automotive sector, with Lightstone sharing insights on the rise of Chinese brands and the importance of data during a high-profile panel discussion. The week concluded with the prestigious Accelerator Awards, where Lightstone was a proud research partner.

Star Reacher Q2 winners take center stage

Lightstone has just revealed the F&Is who shone in Quarter 2 of our Star Reacher Awards programme! These top achievers have set new standards with their incredible performance. A huge congratulations to all our winners and standout performers. Curious to see who came out on top? Check out the full list of champions here!

Take charge of your risk assessments

Gain more control over your risk assessment process with RiskMonitor’s customisable templates. Tailor the risks, weightings, and questions to your dealership’s needs, and assess juristic customers directly on Signio. Read more to discover how RiskMonitor can streamline your compliance strategy.

Unlock the power of Signio’s Costing Sheet

Unlock the power of Signio’s Costing Sheet for F&I Managers and Super Users! Streamline deal management with precise tracking of profits, VAPs, and extras, while saving time with automated inputs. Read more to discover how the Costing Sheet can enhance your dealership’s operations.

October 2024 Auto Insights Newsletter