Auto Insights | August 2023
Celebrating women ownership in South Africa
Women are catching up to men in buying financed new vehicles … and women lead the homeownership race
Women are catching up to men when it comes to financing new motor vehicles and more women own homes in South Africa than men.
An analysis of data by Lightstone this Women’s Month demonstrates the increasingly important role women are playing in South Africa’s economy.
Women accounted for 45% of financed new vehicle sales in 2022, up from 41% in 2019, compared to 33% of financed used vehicle sales in 2022, up marginally on 32% in 2019.
Women own 3.9m (57%) of South Africa’s nearly 7 million formally registered residential properties, either on their own or jointly with a man or another woman, as at July 2023 – and these properties account for 53% of the value of properties.
In our August issue of Auto Insights we also include our regular New Vehicle Sales update and look at how financed deals through our Signio platform are recovering to pre-Covid levels.
And there’s more!
New trumps used for women vehicle buyers
Women accounted for 45% of financed new vehicle sales in 2022, up from 41% in 2019, compared to 33% of financed used vehicle sales in 2022, up marginally on 32% in 2019.
Light Commercial Vehicle sales boost market volumes in July
Although Passenger vehicle sales dropped by 9.0% year-on-year in July to 28 040 units, Light Commercial Vehicles (LCV) sales more than compensated, climbing by 32.6% to reach 12 669 units, when compared with July 2022.
Signio deals relatively steady as Covid recovery continues
Over the first seven months of 2023, average financed sales recorded through Signio amounted to 20 500 deals per month. This was 6% down on the January to July period in 2022, but 10% up on the same window in 2021.
If your motor dealership is not using Signio, don’t be left behind in the slow lane! Lightstone Signio simplifies your work process while helping manage total dealer profitability.
Email Lightstone and an expert consultant will be in touch with more information:
signiosupport@lightstone.co.za
or call 087 359 3241 / 087 135 3968.
Gear change needed to accelerate SA's auto manufacturing sector
Lightstone Auto’s Managing Director, Pieter Wessels, recently wrote an article published in Biz Community that shares his views on how the future success of South Africa's auto manufacturing industry depends on focusing on navigating and on resolving challenges within the industry’s control.
Dealer satisfaction second highest in history
In a remarkable display of participation, a total of 34 brands, comprising 25 Passenger/LCV and 9 Commercial vehicles, actively took part in the 2023 National Automobile Dealers' Association’s (NADA) Dealer Satisfaction Index Survey (DSI) conducted by Lightstone. This notable level of involvement, positions the survey as one of the most comprehensive studies ever conducted within the South African industry. The survey results revealed an increase of 0.2% in 2023 to 76.4%, the second highest score recorded since 2003 despite all the challenges currently facing the automotive industry.
Star Reacher update:
island vibes
Lightstone’s Star Reacher awards programme has exciting quarterly and annual prizes up for grabs. Here’s a glimpse of what top performing F&Is can look forward to…
Enjoy the read!
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