Affordability is driving a structural shift in South Africa's vehicle market, with SUVs gaining significant ground as consumers increasingly seek competitively priced, well-equipped vehicles.

An analysis of 2.56 million new and used vehicle finance applications processed by Absa Vehicle and Asset Finance between January 2023 and June 2026 shows that SUVs increased their share of the combined SUV, bakkie and body-on-frame SUV market from 60.2% in the second quarter of 2023 to 67.6% in the second quarter of 2026. SUV applications grew 38% between 2023 and 2025, while bakkie and body-on-frame SUV volumes remained relatively stable.

 To give a perspective on what this means, Thami Ngubeni spoke to Henry Botha, Head: Strategy and Business Analytics at Absa Vehicle Finance.

Affordability is driving a structural shift in South Africa's vehicle market, with SUVs gaining significant ground as consumers increasingly seek competitively priced, well-equipped vehicles.
An analysis of 2.56 million new and used vehicle finance applications processed by Absa Vehicle and Asset Finance between January 2023 and June 2026 shows that SUVs increased their share of the combined SUV, bakkie and body-on-frame SUV market from 60.2% in the second quarter of 2023 to 67.6% in the second quarter of 2026. SUV applications grew 38% between 2023 and 2025, while bakkie and body-on-frame SUV volumes remained relatively stable.
&nbsp;To give a perspective on what this means, Thami Ngubeni spoke to Henry Botha, Head: Strategy and Business Analytics at Absa Vehicle Finance.

In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.

In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.