3 Car Brands Dominating South Africa’s Market: Chery, Mahindra, and Suzuki Lead the Way

In a challenging economic climate, South African car buyers are prioritizing affordability above all else. This shift has paved the way for Asian automakers like Chery, Mahindra, and Suzuki to dominate the market, while traditional luxury brands struggle to keep up.

According to the TransUnion Vehicle Price Index for Q4 2024, the South African automotive sector is experiencing a cautious recovery. Improved macroeconomic factors, such as interest rate cuts, lower inflation, and a stronger rand, have boosted consumer confidence. However, affordability remains the key driver of purchasing decisions, with budget-friendly brands reaping the benefits.

The Affordability Factor

The TransUnion report highlights a growing pricing disparity between new and used vehicles. While new vehicle prices rose by 1.7% due to supply chain constraints and production costs, used vehicle prices fell by 2.8%. This trend underscores the increasing demand for affordable second-hand cars.

Financing trends further emphasize this shift. TransUnion Africa’s Vice President of Sales, Marcia Mayaba, noted that financing for used vehicles outpaced new car financing at a ratio of 1.56 to 1. Standard Bank also reported a 9.3% quarter-on-quarter increase in vehicle loan applications during Q4 2024—the highest rise in two years.

“The majority of South Africans still prefer second-hand cars over brand-new models,” said Derick De Vries, Head of Vehicle and Asset Finance at Standard Bank.

Asian Automakers on the Rise

Amid this affordability-driven market, Asian car brands have thrived. Chery, Mahindra, and Suzuki recorded the highest year-on-year growth in new passenger and light commercial vehicle sales, increasing by 23.7%, 37.4%, and 22%, respectively.

Chery’s sub-brands, Omoda and JAECOO, along with BAIC, have further solidified the dominance of Asian automakers. Meanwhile, traditional brands like Nissan, Mercedes-Benz, Renault, and BMW have seen year-on-year declines, reflecting the shift in consumer preferences.

Suzuki’s Remarkable Growth

Suzuki, in particular, has emerged as a standout performer. Over the past decade, the brand has seen a staggering 776% increase in sales, from 6,402 units in 2014 to 56,109 in 2024. This growth has propelled Suzuki to surpass the Volkswagen Group as South Africa’s second-best-selling car brand, trailing only Toyota.

The Suzuki Swift has been a key driver of this success. In January 2025, the Swift set a new sales record, moving 2,628 units in a single month—surpassing its previous peak of 1,925 units in June 2022. This achievement even saw the Swift briefly overtake the Toyota Hilux as the country’s top-selling vehicle.

Chery’s Impressive Surge

Chery has also made significant strides, with sales growing by 1,435% over the past decade—from 1,297 units in 2014 to 19,911 in 2024. The brand’s focus on affordability, advanced technology, and high-quality specifications has resonated with South African buyers.

Mahindra’s Steady Climb

Mahindra, another Asian automaker, has seen a 37.4% year-on-year increase in sales. Known for its rugged and affordable vehicles, Mahindra has carved out a niche in the light commercial vehicle segment, appealing to both individual buyers and businesses.

The Bigger Picture

The rise of Chery, Mahindra, and Suzuki reflects a broader trend in South Africa’s automotive market. As the National Automobile Dealers’ Association (NADA) explains, the market is increasingly price-sensitive, with most buyers shopping in the sub-R350,000 range.

“Chinese and Asian brands offer strong perceived value at an accessible price point,” said NADA. “These vehicles provide high-quality specifications, advanced technology, and competitive pricing, making them an attractive alternative to traditional luxury brands.”

As affordability continues to drive purchasing decisions, Chery, Mahindra, and Suzuki are well-positioned to maintain their dominance in South Africa’s car market. Their success underscores the importance of understanding and adapting to consumer needs in a challenging economic environment.

For South African car buyers, these brands offer a compelling combination of value, quality, and innovation—proving that affordability doesn’t have to mean compromise.

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