True Price, the innovative startup that launched in South Africa earlier this year, has gathered some fascinating data pertaining to private motorists in South Africa, what they’re driving and when they’re selling their cars.
What is the most popular car among True Price users and private owners of motor vehicles? It is the Volkswagen Polo and the owner will probably sell his or her vehicle after it has done 78 000 km.
This can be revealed after studying data gathered by True Price over the past five months. The pioneering startup – which provides motorists with free vehicle evaluations – has accumulated data pertaining to the cars owned by thousands upon thousands of private motorists and the prices that they attract on auction.
Darryl Jacobson, managing director of True Price, explains that data extrapolated from the company’s website is massively significant. “It is a strong indication of the preferences of private motorists (the site isn’t used by fleets, corporates or leasing companies),” he explains.
And it seems as though the Polo – specifically the 2014 model year – truly reigns supreme on True Price. Of course, this comes as no surprise. “The Polo – and its Polo Vivo sibling – continue to astound industry commentators with their success. They remain perennial favourites of South African car buyers, having topped the sales charts for many years. Both the Polo and the Polo Vivo are especially popular with younger buyers; we see keen bidding on auctions when these cars come under the hammer,” says Jacobson. True Price statistics show that the Polo is being enquired upon it has done 78 000 km (on average), meaning a sale of the vehicle is probably imminent.
The second most popular car, according to True Price visitor statistics, is the 2014 Mercedes-Benz C-Class. Based on True Price data, the C-Class is enquired upon at the 70 000 km mark. “We are seeing considerable interest in this model on our site,” says Jacobson. “This is thanks to two factors. Firstly, a new C-Class has just been launched. Accordingly, there is a flurry of activity as current customers seek to upgrade to the new car.”
Number three on the True Price charts is the 2014 Ford Fiesta, which came as a surprise to Jacobson. “Perhaps the launch of the new Fiesta has stimulated activity. But this was definitely a surprise number three,” he concedes. On average, the Fiesta is enquired upon once it has done 76 000 km.
Next up is the 2013 BMW 3 Series which, according to True Price data, is enquired upon once it’s done 73 000 km. “I was not surprised to see the 3 Series clock in at number four,” says Jacobson. “At such a low mileage, the owners of those vehicles are likely to get top price when they trade in or sell.”
Rounding off the True Price top five is the 2015 Toyota Corolla, which is enquired upon after 65 000 km. “This is not a surprising inclusion in our ‘top five’ list. When it comes to the Corolla, buyers realise that ‘everything keeps going right’. Once again, if they sell after a mere 65 000 km (which is most probably the reason why they’re enquiring), they will get top price,” explains Jacobson.
The top five cars have one thing in common: when they do come up on auction, bidding is enthusiastic and very aggressive. “All five of these vehicles are highly sought after by both dealers and private buyers,” reveals Jacobson.
It seems that the 100 000 km barrier remains top of mind for motorists. “The majority of people who visit True Price intend selling their cars once they have done between 50 000 and 100 000 km. With the advent of services such as Uber and the Gautrain, we’re also seeing that people are not driving as much as they used to; we’re constantly surprised by the low mileages on the vehicles that we appraise. It is clear that motorists only use their vehicles when absolutely necessary,” says Jacobson.
Want to know what your car is worth? Motorists can visit www.trueprice.co.za – and request a free vehicle evaluation in a matter of minutes. Evaluations are based on data that is gathered at vehicle auctions.
This is the complete list of the top five used cars (as reflected by True Price statistics):
Original source: True Price
Not all vehicle models and brands are created equal. This is according to an analysis of the actual price a specific vehicle achieved on auction, as a percentage of the original list price for that same vehicle one year earlier.
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