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MNI

Second hand car market at present

Question

It seems the second hand vehicle prices have come down drastically.Is there any reasons for it. Is it due to hybdrids flooding the second hand car market or is it due to the availability of more brand new/ unregistered kei cars.

Value your opinion 

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Which vehicles do you mean?Look at those 121,allions and premios still asking for out of world prices

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Umm no infact second market has sort of gone up because of rising yen car sellers have reduced their imports.

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European brands have come down I think due to the many brand new / unreg lower engine capacity turbo vehicles available 

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IMO the market for the 2nd hand vehicles has gone down.During october 2018 my 121 was ready to be sold for 2.95million(gave up the idea due to the inabilty to find a good car) but finally sold it for 2.85million last Monday(When I finally found a car to buy).

I belive the main reason for that is the kei cars.It totally makes sense of buying a kei car unreg for around 3mil for a small family than buying a hacked 121,Allion,Axio.It has plenty of room and good fuel economy(what SL people care the most).Just memorize how it was in like 2010-2011.A very few number of kei cars were imported from japan.Cheapest famous japanese car was Vitz which was around 3mil(at that time the value of the rupee was much higher).Now most people can afford a car around 3mil.Also small cars from brands like kia and hyundai became much popular like the picanto and i10.

But I don’t think that hybrids have affected the market since they have a very high rate of depriciation.As an example,take the Toyota Aqua.One of my friend bought one in 2013 for 5.3millon.Now the same car can be found around 3.4millon.Hybrids are on their own league when it comes to depreciation

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The petrol cars on the same line as hybrids like petrol fits civics axios have come down drastically and the argument of buyers is newer manufacture year hybrid cars are available for similar price They don't consider the difference in technology or these cars not having issues as hybrids

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AFAIK the current trend in drop of second hand market is due to vehicles not moving in the second hand arena as well as from car sales, started with the depreciation of the rupee and political unrest and now people are holding up hoping prices will go down after the budget, and partly due to permits issued and trapped.

this is what the big car sale guys say, imports have also gone down and things will again pick up and prices will increase by April as usual.

Also the newly imported euros have sorta shocked the newbie clientele apparently in comparison to maintenance costs, thus you see people getting rid of them after like 30000km bringing them down 

Hybrids have lost value due to the enormous list of problems each make and model is having after their stay in lanka, thereby they are compensated for the newer lower displacement engines with near equal fuel figures, to hell with performance / power

Newer Diesel / petrol suvs have come down as I guess they are expensive to run and the clientele are not moving money at the moment. Older SUVs are picking up value due to the current off roader wannabe V*P craze 

Only thing holding value are Suzuki Keis as usual things will be back to normal after the budget.

Edited by tiv
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42 minutes ago, MNI said:

The petrol cars on the same line as hybrids like petrol fits civics axios have come down drastically

1

And how... look at these 2 adverts

1.

Civic FD4 2011, 1st owner, 58k kms, 2017-August

Rs. 4,490,000

http://www.autolanka.com/view/honda/civic/43528.html

2.

Civic FD4 2011, 1st owner, 67k kms, 2018-August

Rs. 3,975,000

http://www.autolanka.com/view/honda/civic/61857.html

 

Keep in mind that these 2 adverts were put up by the same car sale, so just 1 year and 10k kms later the depreciation is a staggering Rs. 515,000!

 

Edited by Hyaenidae

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35 minutes ago, Hyaenidae said:

And how... look at these 2 adverts

1.

Civic FD4 2011, 1st owner, 58k kms, 2017-August

Rs. 4,490,000

http://www.autolanka.com/view/honda/civic/43528.html

2.

Civic FD4 2011, 1st owner, 67k kms, 2018-August

Rs. 3,975,000

http://www.autolanka.com/view/honda/civic/61857.html

 

Keep in mind that these 2 adverts were put up by the same car sale, so just 1 year and 10k kms later the depreciation is a staggering Rs. 515,000!

 

I've never followed these much but I guess these things were not that popular since new around 4.2 unreg right? , and the UK imports also had a lot of agony in the later years

remember there was a time Ford Escorts and Datsun 510s went near 2mil, and how all those classics have bottomed out now.

Edited by tiv

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I've never followed these much but I guess these things were not that popular since new around 4.2 unreg right? , and the UK imports also had a lot of agony in the later years
These are brand new agent imports AFAIK. I doubt if these were 4.2 mil back then, but even if they were whoever bought it back in 2017 has lost a significant sum as depreciation

Sent from my Nokia 1100 using AutoLanka.com mobile app powered by Tapatalk

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I think the buy and sell fellows are also trying to set up prices for vehicles for them to get a bigger profit.As people who are desperate to sell their vehicles dispose them for lower prices where second hand vehicle movement is minimal at present.

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due to the political instability the prices are very much down I was looking at a subaru the desperate used advertised twice with vales each with a depreciation of about 5 lakes differences.

 

and look at the autolanka forum very little activity !!!!!

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