A new study by UK based online used car dealership, Carspring, reveals the sharp difference in the value of used vehicles around the world.
The Global Used Car Price Index 2017 offers an overview of the value of various brands across 40 different economic regions and car markets.
The research included the majority of the largest car-producing nations, including South Africa, whilst brands were selected based on global popularity.
Where no direct model comparison was available between nations, Carspring identified comparable global models per brand and selected models with similar mileage and engines.
With these conditions defined, the company researched all used cars currently available in the market for each model, plus those sold in the past 12 months from hundreds of online outlets and brick and mortar retailers in five of the biggest cities in each market.
The US was found to have the most affordable used car market, while South Africa was ranked fifth.
Singapore is the most expensive country to buy a used car for every model due to the country’s extremely high taxes on automobiles.
In the case of South Africa, Carspring used the following 10 vehicles:
- GM – Chevrolet – Chevrolet Spark
- Renault – Renault Megane
- Hyundai – Hyundai i30
- Ford – Ford Fiesta
- VW – VW Golf
- Fiat – Fiat 500
- Land Rover – Range Rover Evoque
- Mercedes-Benz – Mercedes-Benz C180
- Nissan – Nissan Navara
- Toyota – Toyota Prius
Find the full index here