Publications
Partners
In more mature markets like Europe and the United States, the sales of electric vehicles (EVs) are slowing. Indications already point out that the South African market is following the same trend.
Both new and used EV sales have accelerated in recent years. In 2022, 502 new EVs were sold, rising to 931 new EV sales in 2023. In the used car market, 143 EVs were sold in 2022, while 2023 achieved 332 used EV sales, with the average price running at R1 182 154 for a 2-year-old EV with 10 067km mileage on average.
But indications already point to a slowdown. Although used EV sales increased by 73% in the first quarter of 2024, the sales rate has slowed. According to AutoTrader data, it now takes about 42% longer to sell (1.7x more days) a used EV than in the corresponding period of the previous year.
