Generation X is emerging as a significant force in South Africa’s shift to new-energy vehicles (NEVs), with NEV finance applications from people born between 1965 and 1980 outpacing those for conventional vehicles.
This is according to data from the Cars.co.za Industry Report 2026, which shows Gen X represents 35% of NEV finance applications, compared with 20% of applications for conventional internal-combustion vehicles from the same generation.
Gen Z, meanwhile, accounts for about 8% of NEV finance applications, while the typical battery electric vehicle (BEV) buyer is 43 years old.
Generation X is commonly defined as people born between 1965 and 1980, while Generation Z generally refers to those born between 1997 and 2012.
The report combines several data sets, including Cars.co.za marketplace data, consumer research, Absa vehicle-finance data and the latest National Association of Automobile Manufacturers of South Africa (NAAMSA) data, to examine changing purchasing patterns in the local automotive market.
The generational data comes as SA’s NEV market expands, with 18 945 NEVs sold in the first eight months of 2026, already surpassing the 16 703 units sold during the whole of 2025, the report reveals.
NEVs include battery electric vehicles (BEVs), plug-in hybrid electric vehicles and hybrid electric vehicles (HEVs), giving consumers a range of alternatives to conventional petrol and diesel powertrains.
Hiten Parmar, executive director of The Electric Mission, says the economics of electric mobility are becoming increasingly relevant to consumers and businesses.
“First-mover consumers and businesses are appreciating lower operating and maintenance costs with electric vehicles. The events unfolding in the Middle East are also a catalyst for greater energy independence. Electric mobility provides an efficient way to move people and the goods associated with everyday life,” notes Parmar.
The relatively smaller share of Gen Z does not necessarily indicate limited interest, but shows that younger buyers currently account for a smaller portion of financed NEV purchases, he adds.
The report also records early evidence of repeat purchasing, with 18% of current EV buyers having previously owned an EV.
“This points to an emerging base of consumers with previous experience of electric vehicles, rather than a market made up entirely of first-time adopters.”
Power buyers
The profile of the typical BEV purchaser provides further context to the generational data, showing the market is not concentrated exclusively among younger motorists.
According to the report, the typical BEV buyer is 43 years old, lives in an urban area and purchases a new vehicle. Some 79% of EV finance applicants purchase new vehicles, compared with 39% among petrol and diesel buyers, while more than half of EV finance applicants are based in Gauteng.
The figures indicate the early BEV market is being shaped by relatively established consumers with the financial capacity to purchase new vehicles. Younger motorists may gain additional access to the technology as further new NEVs enter the used-vehicle market.
“The combination of the 35% Gen X share of NEV finance applications and the 43-year-old typical BEV buyer suggests the current market is being shaped by consumers with established purchasing power, rather than being led exclusively by younger generations.”
Price remains an important consideration for consumers entering the market. The report finds that 70.8% of surveyed shoppers identify price as a purchasing consideration, while 52.5% cite fuel efficiency.
Wider choice
The changing consumer profile is unfolding alongside a significant shift in competition within SA’s automotive industry, with Chinese manufacturers increasing their presence across the market, the report finds.
“Chinese manufacturers increased sales by 72% year-on-year in the second quarter of 2026, compared with 3% growth among traditional manufacturers, taking their combined share of the new-vehicle market to about 22%,” it says.
Chinese manufacturers are also gaining a significant foothold in the electric-vehicle market. BYD accounts for 61% of EV finance applications in the Absa data, while the Geely E2 Aspire is the most-enquired electric vehicle on Cars.co.za and the BYD Dolphin Surf leads at model level.
The expansion of Chinese EVs is also becoming more visible on the Cars.co.za marketplace, accounting for 0.37% of listed stock in 2026, up from 0.02% in 2020, while EV buyer leads increased 19-fold.
The figures point to a market where consumers are encountering a wider range of electric models during the research and purchasing process, although EVs remain a relatively small component of the overall vehicle market.
Running costs are another consideration for motorists weighing electric vehicles against conventional alternatives. The Cars.co.za report puts the energy cost of a battery-electric vehicle at approximately R0.34/km, compared with about R1.50/km for an equivalent petrol or diesel vehicle.
Cars.co.za’s five-year cost analysis has similarly examined the impact of energy and maintenance costs on the overall cost of ownership, showing how operating savings can affect the upfront price differential between electric and internal-combustion vehicles as mileage accumulates.
For established motorists replacing an existing vehicle, the combination of operating costs, increased model availability and a broader competitive market is adding new considerations to the decision between electric and conventional powertrains.
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