This Week In The News

NEWS IN SHORT

• The prices of used cars in South Africa are returning to levels not seen since the start of the Covid-19 pandemic, spelling good news for potential buyers. This is according to a report by GetWorth, which tracked and analyzed the going rate for pre-owned vehicles over the last five years, from 2019 until the end of 2024.
  
  
• The Alarm System Oddity:
  Complaint: "The car alarm goes off for no reason every time I lock my car."
  Response: “That’s the system telling you it’s properly armed, sir."
  Complaint: "I don't like being told by the car. It feels rude."
  
  
• As of January 2025, SARS has processed 2,664,279 applications for tax directives concerning withdrawals from the Savings Withdrawal Benefit. A staggering gross lump sum of R43.42 billion has already been paid out, underscoring the significant impact of the two-pot system.
  
  
• Mazda has been in South Africa for over 50 years. The Japanese car manufacturer has been a key part of South Africa's automotive industry since 1963. Mazda started as the Toyo Cork Kogyo Co., Ltd, a cork-making factory founded in Hiroshima, Japan, in 1920.
  First Mazda manufactured in SA was 1966,

• Sasfin plans to close its Business and Commercial Banking (BCB) business in 2025, joining a growing list of financial companies exiting their South African banking operations. Sasfin’s decision follows a series of international and local banks that also called it quits. UK-based bank HSBC recently announced that it has reached an agreement to transfer its branch business in South Africa to FirstRand Bank.  Furthermore, the sixth-largest bank in the world, BNP Paribas, is no longer operating as a bank in South Africa. When it comes to local players, the Bidvest Group also plans to dispose of Bidvest Bank and FinGlobal.

• During Volkswagen‘s inaugural Indaba event, the company suggested the development of a new half-tonne bakkie for the South African market in the future

• AA CEO Bobby Ramagwede suggested that all motorists should be required to perform a roadworthy test whenever they apply to renew their licence disc, effectively making it an annual requirement to keep one’s car on the road. “Motorists are already required to renew their car licence disc every year, so it stands to reason that a roadworthiness certificate should be included in that process,” he argued. More concerning is that this will become yet another avenue for widespread corruption in South Africa.

• The National Minimum Wage will be hiked by 4.4% to R28.79 per hour on 1 March 2025

 

JANUARY 2025 USED, SALES STATS.

THE 5 BEST USED CAR SELLERS

1. VOLKSWAGEN
2. TOYOTA
3. FORD
4. SUZUKI
5. CHERY

Top 10 Derivatives Used Car Sales

1.	VOLKSWAGEN	POLO VIVO 1.4 TRENDLINE (5DR)
2.	SUZUKI	ERTIGA 1.5 GA
3.	CHERY	TIGGO 4 PRO 1.5 LIT
4.	CHERY	TIGGO 4 PRO 1.5 LIT CVT
5.	FORD	RANGER 2.2TDCI XL P/U D/C
6.	NISSAN	NP200 1.6 A/C SAFETY PACK P/U S/C
7.	VOLKSWAGEN	POLO VIVO 1.4 COMFORTLINE (5DR)
8.	CHERY	TIGGO 4 PRO 1.5T LIT DCT
9.	SUZUKI	SWIFT 1.2 GL
10.	FORD	RANGER 2.2TDCI XL A/T P/U D/C

Top 3 Used Commercial / Bakkie Sales

1.	FORD	RANGER 2.2TDCI XL P/U D/C
2.	NISSAN	NP200 1.6 A/C SAFETY PACK P/U S/C
3.	FORD	RANGER 2.2TDCI XL A/T P/U D/C

10 Best-selling bakkies in South Africa. (New-Jan.)

1.	Toyota Hilux	2,557 units
2.	Ford Ranger	1,858 units
3.	Isuzu D-Max	1,413 units
4.	Mahindra Pik Up	801 units
5.	Toyota Land Cruiser79	560 units
6.	Nissan Navara	298 units
7.	VW Amarok	245 units
8.	GWM P-Series	101 units
9.	Mitsubishi Triton	75 units
10.	GWM Steed	74 units

 

The Toyota Hilux is still the number one pick for motorists, though its sales dropped from 2,962 to 2,557 between December and January.

In contrast, the Isuzu D-Max recorded a great performance, with sales jumping from 1,086 to 1,413 units over the same period, easily landing it in third place.

10 Best-selling cars in South Africa. (New-Jan.)

1.	Suzuki Swift	2,628 units
2.	Toyota Hilux	2,557 units
3.	VW Polo Vivo	2,549 units
4.	Toyota Starlet	2,180 units
5.	Ford Ranger	1,858 units
6.	Isuzu D-Max	1,413 units
7.	Toyota Corolla Cross	1,226 units
8.	Hyundai Grand i10	1,212 units
9.	Chery Tiggo 4 Pro	1,122 units
10.	Haval Jolion	1,099 units

The Suzuki Swift came out on top as the most sought-after new car in South Africa in January 2025, surpassing the usual holder of this position, the Toyota Hilux, by just 71 sales.

The Swift managed to move an impressive 2,628 units over the 31 days, while the Hilux saw a still commendable 2,557 registrations.

CASE FILE - MONEY LAUNDERING

In recent weeks we had a spate of cases whereby dealers were used by one of the oldest tricks to launder money.

The “customer” would offer to pay a deposit into the dealer’s bank account in order to secure the vehicle they intend to buy. In one case the total purchase price was paid into the dealers account amounting to R 480 000.

These payments normally originate from another bank account and not in cash. This is done in order not to create any suspicion or trigger the mandatory reporting on the cash threshold of over R 49 999.

Only after the money is confirmed to be in the dealer’s bank account phase 2 kicks in.

The “customer” then comes up with various reasons why the transaction cannot be completed and asks for the money to be returned to them.

They would then mostly request for the money to be returned to an account other than where the original payment originated from.

In the one case the payment reflected on the original statement from a medical clinic as been for medicine and not for the dealership.

In another case the money was paid from a dealership through the practice of “phishing,” whereby a dealerships emails for a sale were intercepted and the payment was redirected to the targeted dealership in question.

Things to do to help you to not find yourself in this situation

1. Do not pass out your banking details to any persons before they are properly vetted. (ID, license and proof of address)
2. Inform all off your staff of this business rule.
3. Customer to sign an OTP. You can add “Subject to seeing “
4. Proof of bank account of the customer i.e stamped letter from the bank confirming the latter.
5. Proof of payment from said account.
6. Inform the customer that before any payment is accepted that you are an accountable institution under FICA and that you have to vet them and their banking details. This action will more than likely discourage any further actions from the “customer”
7. Once a repayment is requested the costumer has to supply you with a bank statement confirming that the payment originated from the original account.
8. Only pay back the money into the bank account where the original payment originated from.
9. Report this matter to FIC as we are now deemed an accountable institution.

Safety First:

Above all, handle these situations with professionalism and care, prioritizing the safety of both you and your staff. A good practice would also be to send an email to FIC explaining that you have reported said transaction and ask for further guidance from them.
scams@fic.gov.za

 

Did you know?

TOYOTA

A company that started as a textile loom manufacturing company in the early 19th century, transform into one of the biggest Auto Makers the world has seen. Under the direction of the founder's son, Kiichiro Toyoda, Toyoda Automatic Loom Works established an Automobile Division on September 1, 1933, and formally declared its intention to begin manufacturing automobiles on January 29, 1934.

The first passenger car made by Toyota was the Toyoda Model AA, which was designed in 1935. The Model AA was the first true Japanese passenger car

Toyota is not called Toyoda, after the founder, because the company chose to change the name to "Toyota" as it is written with only eight brush strokes in Japanese, which is considered a lucky number in East Asian culture, while "Toyoda" uses ten strokes; the company wanted a name that was visually simpler and associated with good fortune. 

In 1959, the first Toyota model, a Land Cruiser, was exported to South Africa, followed two years later by ten units of the Stout bakkies. Toyota entered the South African market in 1961, initially focusing on assembly operations through a partnership with local companies. The first model produced was the Toyota Hilux, which quickly gained popularity for its durability and reliability.