Who is ahead in the resale stakes between Africa’s two most popular bakkies?
Which of the two most popular bakkies, the Ford Ranger or the Toyota Hilux, maintains its resale value best? The final answer in this endless debate has now reached a concrete conclusion.
True Price, the South African online outfit that tracks market movement for used vehicle sales, recently compared sales data for the Ranger and the Hilux in three categories over two years.
“We analysed 2015 and 2016 Hilux and Ranger models in three different mileage categories: zero to 100,000 km, 100,000 to 200,000 km and over 200,000 km,” said Darryl Jacobson, the True Price Managing Director.
True Price has data for thousands of vehicles sold on auction on its system. This data is utilised to provide free vehicle valuations to motorists based in southern Africa. The data reveals some extremely interesting statistics, amongst others, that the Hilux tends to preserve its value better than the Ranger.
In the zero to 100,000 km category, the Hilux retains 73% of its original price while the Ranger reaches 69%. In the 100,000 to 200,000 km category, the Hilux retains 62% of its original price while the Ranger fetches 56%. In the over 200,000 km category, the Hilux keeps 68% of its original price and Ranger 53%. In all three categories and over both years, the Hilux outperformed the Ranger.
According to Jacobson, resale value should be one of the single most important factors to consider before purchasing any vehicle. “The majority of vehicles are depreciating assets. The exception to this rule is a classic or collector´s car. The longer you own a vehicle, the less it will be worth. In fact, depreciation is the single biggest cost factor when it comes to vehicle ownership. It is far more significant than the cost of servicing and maintenance, for instance. Yet some car buyers forget about this important aspect of vehicle ownership when making their choice,” he said.
Do not ignore resale value, Jacobson cautioned. “You will get a much lower trade-in price when the time comes to sell. That much is obvious. However, consider also the fact that the vehicle could be stolen or written off. Your insurers will pay you a market-related value… and resale value plays an important role here!” he said.
But why does the Hilux have better resale value than the Ranger? After all, both are great bakkies. The vehicle sales statistics confirm this. Well over 30,000 Hilux and Ranger derivatives were sold in southern Africa last year – 36,422 versus 32,811 to be exact. However, the Hilux still beats the Ranger in the resale stakes for a number of reasons,” Jacobson said.
The first is brand image. “The Toyota brand is one of the most loved and trusted in Africa. Motorists believe that they are purchasing reliability and peace of mind when they opt for Toyota,” he said.
The second is aftersales service. “Toyota dealers have an outstanding reputation for delivering good service at fair prices. Furthermore, the dealer network is vast, meaning that you don´t have to look long and hard to locate a dealer. Spare parts are also readily available, anywhere,” Jacobson pointed out.
These factors mean that it will be hard for the Ranger to catch up with the Hilux, both for new and used vehicles. The Ranger is widely praised and appreciated but the Hilux legacy is just so much stronger. “Accordingly, I predict that the Hilux will reign supreme in the resale stakes for the conceivable future,” Jacobson concluded.
Any vehicle owner can obtain a free valuation from True Price at www.trueprice.co.za .