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After a new car leaves the dealership, it immediately loses a significant percentage of the purchase price. And as the value of the vehicle continues to depreciate over time, some brands depreciate faster than others. In order to find out which car brands have to endure the greatest loss in value, the automotive experts from carVertical examined and analyzed over 2019 million pieces of data between 2022 and 72 in Europe, the USA and Australia. The most important results follow.
Porsche holds the value best
Porsche (-64,4%), Jeep (-84,4%) and MINI (-85,5%) are the three brands that, statistically speaking, have lost the lowest value and still achieve the highest residual value after deducting the lowest market value achieved . Over the years, a Porsche will only lose a maximum of 64,4% of its new value on average, while a Lexus will lose up to 89,9%. "Porsche builds sports cars that are practical enough for everyday use. The user loves that. The 911 is probably one of the most iconic vehicles in automotive history - with a huge following. No wonder demand exceeds supply. Porsche vehicles are also reliable, durable and have a distinctive appearance that is attractive to customers“, explains Matas Buzelis from carVertical.
Brands such as Hyundai and Toyota can also be found among the vehicles with a relatively high residual value. These are affordable and typically have lower maintenance costs, making them popular with used car buyers. Some premium brands like Jaguar, Land Rover and Lexus tend to depreciate a little less, but that's not always the case.
Many premium car brands are losing more than their lower priced counterparts!
As the chart shows, Chrysler, Audi and Seat are the brands that have lost the most value over the years. For example, a new Chrysler loses approximately -96,8% of its new value at the end of its lifetime (in about 25 years on average), making this the brand that has lost the most value. In fact, around half of the brands in the car depreciation chart are premium. Even if consumers love Infiniti, BMW and Volvo new cars, their value also decreases significantly over time. For comparison: Toyota reaches its lowest value around the age of 19, while BMW only gets there at the age of 21. However, Toyota vehicles only lose about 88,7% of their new value, while BMW's lose up to 93,8%. But what factors cause these differences?
"BMW and other premium car brands usually have features and technological equipment that used car buyers do not necessarily need or want. If you can afford a new BMW, Mercedes-Benz or Land Rover, you probably want all the luxury and technological innovations you can get. However, someone looking for a cheap used car tends to prioritize price and maintenance costs over unnecessary features. That's why a used Toyota is more attractive to many than a BMWsays M. Buzelis. Owners of an Audi (-96,2%), Seat (-95,8%) or Skoda (-95%) should not expect too much when selling their used vehicles.
Used cars reach their lowest value at various stages
According to CarVertical, the average age of vehicles with the highest depreciation is in the range of 20 to 23 years. However, different car brands reach their lowest value at different stages. Porsche and MINI usually cost the least at the age of 15. After they reach that age, the time value begins to grow again. Well-preserved specimens can therefore be a valuable investment. Isuzu, Suzuki, Kia and Dacia are on the opposite side of the spectrum — hitting rock bottom at 30 years of age. However, if a model is considered rare, its value can increase significantly over time.
In the 90s, BMW only produced 891 M5 E34 Tourings. Twenty of them had a special name - Elekta - and were built for the Italian market. Powered by a 335 hp 3,8 liter engine, the Touring also received special paintwork and equipment. Finding a used Elekta today is like looking for a needle in a haystack. Car lovers should be prepared to shell out at least $100.000 to park one in their garage. And while a normal vehicle is likely to be scrapped after 20 to 30 years, a Porsche or Jaguar with a documented service book and impeccable history can increase in value almost daily.
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