Small cars have best resale
According to the global car valuation firm Glass's Information Services, demand for small cars has grown to the extent that small car owners now recoup thousands of dollars more than prestige car owners when they sell.
Traditionally the value of small cars has depreciated quicker than big cars and luxury models. Glass's said that a 2012 Mazda3 small car had the same retained value that is, how much of the purchase price you will get back from 56 per cent.
That was the same percentage as a Lexus LS460 originally costing almost $200,000. Glass's research analyst, Rushad Parkar, says a 2012 Mazda3 bought for $26,490 had a three-year retained value of 54 per cent, or would sell for $14,305 in 2015.
That's a loss of $12,185. But a 2012 Lexus LS460 bought for $191,250 would have a retained value of only 44 per cent in three years and be worth $84,150 in 2015 - a price plunge of $107,100.
Glass's said today's buyers wanted fuel-efficient cars and manufacturers were now making small cars that had features, safety and style associated with many prestige cars.
An ever-expanding population has led to more traffic congestion and a premium on parking spaces, which also benefit smaller cars. Glass's said that compact SUVs have also shown strong resale values. A Toyota RAV4 bought today would hold 52 per cent of its value by 2015.
By comparison, a Ford Falcon would retain only 31 per cent of its value - a loss of $20,000 dollars and indicative of the trend away from big-car ownership in Australia. Of the top 10 best selling models in July, five were small cars including the Mazda3, Toyota Corolla and Holden Cruze.
Current value retained | Forecast - 2012 models | |||||||
Sr no. | Vehicle | Segment | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 |
1 | Mazda3 | Small | 53.5 | 56.1 | 61.7 | 64 | 58 | 54 |
2 | Toyota Corolla | Small | 54.3 | 61.3 | 64.8 | 63 | 56 | 50 |
3 | Mitsubishi Lancer | Small | 53.4 | 59.1 | 62.9 | 64 | 58 | 54 |
4 | Toyota RAV4 | SUV Compact | 53.8 | 62.9 | 69.7 | 68 | 60 | 52 |
5 | Hyundai Santa Fe | SUV Medium | 55.2 | 68.5 | 75.7 | 72 | 65 | 56 |
6 | Nissan Dualis | SUV Compact | 58.4 | 65.4 | 74.1 | 70 | 64 | 54 |
7 | Ford Falcon | Large | 29.7 | 37.4 | 44.4 | 52 | 39 | 31 |
8 | Holden Commdore | Large | 46.1 | 58.4 | 65.7 | 64 | 49 | 40 |
9 | Toyota Camry | Medium | 47 | 53.4 | 60.3 | 60 | 50 | 41 |
10 | Lexus LS460 | Upper Large | 43.7 | 56.2 | 64.9 | 65 | 53 | 44 |
11 | Holden Caprice | Upper Large | 48.6 | 54.8 | 74.3 | 69 | 62 | 52 |
12 | Mercedes-Benz S63 AMG | Upper Large | 49 | 56.2 | 64.9 | 65 | 53 | 44 |
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