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Hyundai SUVs rule in resale value

Hyundai SUVs rule in resale value

That new 4WD may look cheap on the showroom floor, but what about its re-sale value in a few years?

If it’s a Hyundai, there’s good news just out.

Independent research shows Hyundai SUVs completely outclassing all other brands in residual values.

The New Zealand study by Australasian market leader Red Book shows no other brand, whether Japanese or European, comes close to Hyundai for holding its value over a few years.

“All three of Hyundai’s SUV models, Tucson, Santa Fe and Terracan, are revealed to be the slowest depreciating, in each of their variations,” explains the General Manager of Hyundai Automotive NZ, Philip Eustace.

“Over three years, at Red Book’s typical mileage of 60,000km, Hyundai is the only brand which remains at higher than 60 percent of its recommended retail price.

“Right across the Hyundai SUV model and variations range, the resale value is at 62 and 63 percent, while other brands are down to 48 percent, below half the sticker price.”

Mr Eustace says it’s a similar story over five years, where a typical vehicle has travelled 120,000km.

“All of the Hyundai models are holding firm at 49 and 50 percent of RRP,” he says.

“We are the only brand anywhere near that mark, several are down in the 30s … losing almost two-thirds of their value.

“When you think about it, an SUV holding up to half its value over five years and 120 thousand kms, is not bad going.”

Mr Eustace adds that the bald statistics don’t reveal the full story.

“Consider Hyundai’s pricing strategy where the listed retail price is realistic and representative of a fair value and not open to huge discounting as is common practice in the new car business in New Zealand.

“That translates directly to less depreciation for the owner.

“Then come Hyundai’s low servicing costs, which make an even lower cost of ownership than is revealed in the figures.

“All told, Red Book’s independent research is further proof of Hyundai’s value for money, on top of its enviable record for safety, quality and innovation.”

Pic: Hyundai All-Terrain Range: Tucson, Santa Fe, Terracan (left to right)


A typical Hyundai SUV is still worth half its new price after five years, and almost two-thirds after three years, independent research reveals.

Red Book, Australasia’s pre-eminent provider of vehicle identification and pricing information, has been researching the motor market for over 50 years.

Further information at www.redbook.co.nz

ENDS

© Scoop Media

 
 
 
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