Gen X fuels SA’s electric vehicle shift
SA’s new-energy vehicles market is shaped by affordability concerns, Chinese brands and lower operating costs, says Cars.co.za.
Generation X, comprising individuals born between 1965 and 1980, is playing a significant role in South Africa's transition towards electric vehicles (NEVs). According to the Cars.co.za Industry Report 2026, NEV finance applications from Gen X outpace those for conventional vehicles, accounting for 35% of NEV applications compared to 20% for conventional internal-combustion vehicles among the same generation.
In contrast, Generation Z, defined as those born between 1997 and 2012, represents only about 8% of NEV finance applications. The typical buyer of a battery electric vehicle (BEV) is 43 years old, indicating that NEVs are not exclusively appealing to younger consumers. Gen X's growing interest in NEVs is driven by the economics of electric mobility, with lower operating and maintenance costs becoming increasingly attractive to consumers and businesses.
The market is also being shaped by the introduction of Chinese manufacturers, who have experienced substantial growth in the EV sector. Companies like BYD and Geely are making significant inroads, with BYD accounting for 61% of EV finance applications. The increased presence of Chinese EVs, particularly the BYD Dolphin Surf, is becoming more evident on the Cars.co.za marketplace, representing 0.37% of listed stock in 2026.
While the share of Gen Z in NEV finance applications is small, their smaller presence does not indicate limited interest, as they currently account for a smaller portion of financed NEV purchases. The shift towards electric vehicles is also accompanied by a broader range of available models, providing consumers with more options during the research and purchasing process.
The report highlights the growing importance of running costs, with battery-electric vehicles offering energy costs of approximately R0.34/km compared to R1.50/km for petrol or diesel vehicles. This cost advantage, combined with increased model availability and a competitive market, adds new considerations to the decision between electric and conventional powertrains for established motorists replacing their existing vehicles.
Written by urgent.news from ITWeb's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
