Three used cars that have increased in value during lockdown
The national lockdown has seen both a reduction in used car sales and used car values — but some cars are bucking the trend.
AutoTrader’s Retail Price Index for May — which shows a reduction of 4.1% year-on-year — confirms that car values have dropped. In fact, the average price decrease of a used car in SA is R12,915 (compared to March).
“This should not come as a surprise. The lockdown has left an unforgettable financial burden on many motorists, who simply cannot afford to pay more,” said AutoTrader CEO George Mienie.
“But the average price increase of a handful of models certainly is surprising news,” he added.
A list of the top 40 most sold used vehicles in March vs May this year and the prices achieved on AutoTrader reveals three top performers when it comes to average selling price increases:
The average selling price of the Toyota RAV4 has increased by R18,863. In March, the average selling price was R299,435; in May, it rose to R318,298.
Digging a little deeper into the statistics to reveal a variant responsible for this overall increase, the 2.0 GX derivative with between 92,593 and 100,197km in mileage had an average selling price of R17,602 more.
The average selling price for the Volkswagen Tiguan rose by R20,515 over the same period — from R342,063 in March to R362,578 in May.
Looking at an exact model derivative, partly responsible for this increase was the 2.0TSI 4Motion Highline with between 29,000 and 33,000km on the clock with an average selling price of R29,220 more.
Yet another vehicle from the Volkswagen family, the Amarok, has also performed very well. Its average selling price rose from R394,952 in March to R419,069 in May — an increase of R24,117.
Looking at a specific model, the 2.0BiTDI Double Cab Highline with between 160,245 and 166,210km in mileage had an average sales price of R9,299 more.
Mienie said the rise in values is testament to the power of the Toyota and Volkswagen brands.
“They are the two most sold used car brands in the country. Motorists have faith in them, hence the strong resale values of their products.”