FirstRand’s vehicle and asset finance unit, WesBank, is one of the companies reaping the benefits of the influx of Chinese car brands in South Africa.
Over the last few years, WesBank has partnered with multiple suppliers and dealer networks that have expanded their businesses to sell Chinese cars.
These vehicles have exploded in popularity since the start of the decade, with companies like Chery, GWM, and Jetour now ranking among the best-selling brands in the country.
This is because Chinese cars are, on average, much more affordable than their legacy rivals while offering performance and features on par with mid- to high-end models.
This has naturally made them popular with South African households struggling to keep up with the rising cost of cars but, despite this, many companies in the automotive sector have been caught off guard by just how quickly Chinese carmakers have displaced legacy badges.
Motus, South Africa’s largest dealership group, was caught out by the consumer shift and is now adjusting its business strategy to include more Chinese cars.
This phenomenon is also affecting the pre-owned car industry, as WeBuyCars has felt the pinch from Chinese cars eating into their sales.
It found that Chinese cars are so affordable compared to other brands that they are even able to compete with used models.
As a result, many consumers would rather purchase a brand-new Chery Tiggo SUV than a 5-year-old VW Polo with 50,000km on the clock for the same price.
However, WeBuyCars believes this issue will be short-lived and that sales will pick up once these new Chinese cars have been around long enough to trickle down to the second-hand market.
WesBank, meanwhile, has adapted its strategy to take full advantage of the uptick in demand for these new imports.
“Chinese car brands are entering the market rapidly, offering advanced technologies, electric and hybrid options, and competitive pricing,” FirstRand explained in its most recent interim results.
It added that WesBank’s advances have grown strongly on the back of its partnerships with Chinese brands/
These partnerships are a key part of WesBank’s operating model, with it partnering with manufacturers, suppliers, and large dealer groups to win and maintain market share.
It also benefits immensely from its access to FNB’s huge retail banking client base and tapping into the eBucks rewards programme to drive loyalty, reported Daily Investor.
More Chinese brands on the way
Over the last two years, South Africa has welcomed in an ever-growing list of new Chinese car brands.
As of March 2026, the list of Chinese automakers operating within our borders includes:
- BAIC
- BYD
- Changan
- Chery
- Dayun
- Deepal
- Dongfeng
- Foton
- GAC
- Geely
- GWM
- Haval
- JAC
- JMC
- Jaecoo
- Jetour
- LDV
- Leapmotor
- Lepas
- Maxus
- MG
- Omoda
This list is still not complete, as Chery is set to launch another sub-brand – iCaur – in May while BYD plans to launch its luxury marque Denza in the near future.
It remains to be seen whether all of these brands will find success in South Africa as there are concerns that the market has become oversaturated and that the influx of new brands is unsustainable.
However, the biggest players – Chery and GWM – are here to stay as both have announced plans to establish a local manufacturing presence.
Chery has confirmed that it will purchase Nissan’s manufacturing plant in Gauteng, and GWM is currently in talks with Mercedes-Benz to share production at its facility in East London.
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