Vehicle evaluation group True Price has published a new report identifying those cars with the worst resale value in South Africa.
The data has been gathered from thousands of vehicles sold on auction around South Africa. “To determine the top 10 best-used vehicle buys, we analysed all our data and came up with the 10 worst vehicles in terms of resale value,” said Darryl Jacobson, MD of True Price.
“These vehicles are great buys because depreciation will have knocked thousands of rands off their purchase prices. We have rated them from one to 10, based on the percentage of the original sales price achieved on auction.”
All of the vehicles on the list were registered from 2015 to 2018, with up to 100,000 km on the clock.
True Price found that the vehicle with the worst resale value is the Tata Indica. “This is probably a result of customer complaints,” said Jacobson.
He said that while the Tata was surprisingly popular with local buyers, thanks to its diminutive price tag, customers have complained about the vehicles being unreliable and parts not being available.
“Potential used car buyers would need to consider these points before buying,” said Jacobson.
The Jeep Grand Cherokee and the Chevrolet Cruze, rank second and third worst in terms of resale.
Jacobson said that the Cherokee has always had a lower resale value than it deserves, but noted that the Cruze’s depreciation in value is more obvious.
“This one is easy to explain. When General Motors pulled out of South Africa, resale values of the vehicles it sold were obviously impacted.
“Parts and service are, however, still available – so this is a sensational buy,” he said.
Below is a list of the 10 vehicles with the worst resale value.
* The percentage relates to the price achieved on auction. For instance, the Tata Indica achieved 50% of its original list price on auction.
Tata Indica – 50%
Jeep Grand Cherokee – 51%
Chevrolet Cruze – 54%
Ford Kuga – 54%
GWM Steed – 56%
Kia Cerato – 57%
Chevrolet Aveo – 57%
Hyundai ix35 – 57%
Nissan Navara – 58%
Nissan Micra – 59%