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Cars to avoid and cars that are bargains – Trueprice reveals worst performers

Cars to avoid and cars that are bargains – Trueprice reveals worst performers

Trueprice, the South African website that tracks the prices of second-hand vehicles sold on auction, named the ten local cars that scored worst in resale value from 2015 to 2018 in the category for mileage not exceeding 100,000 km.

Darryl Jacobson, managing director of True Price, said that it’s a buyer’s market for those South Africans who are shopping for cars and there are some superb deals up for grabs.

True Price has data pertaining to thousands of vehicles sold on auction on its system. This data is utilised to provide free vehicle evaluations to local motorists. The data reveals some extremely interesting findings, as Jacobson explained. “In order to determine the top 10 best used vehicle buys, we analysed all our data and came up with the 10 worst vehicles in terms of resale value.”

In number one position (in terms of worst resale value) is the Tata Indica. “This is probably a result of customer complaints. While this little Indian car was actually surprisingly popular with local buyers (thanks to its diminutive price tag), customers have complained about the vehicles being unreliable and parts not being available. Potential used car buyers would need to consider these points before buying,” Jacobson pointed out.

Number two is the Jeep Grand Cherokee. “This off-roader is a great vehicle but for some reason, it never had great resale value. Right now it’s possible to snap up one for a surprisingly low price,” he said.

Third in terms of worst resale value is the Chevrolet Cruze. “This one is easy to explain. When General Motors pulled out of South Africa, resale values of the vehicles it sold were obviously impacted. Parts and service are, however, still available – so this is a sensational buy,” Jacobson recommended.

The number four position is occupied by the Ford Kuga. “This vehicle’s bad resale value is of course, a result of the fires. Motorists remain wary of this vehicle even though there are no fire or safety risks now,” he said.

Number six is the GWM Steed. “GWM has built up a good reputation, however some people remain wary of Chinese products, hence this vehicle’s low resale value. It’s not a bad bakkie, though,” he commented.

The seventh worst vehicle in the resale value stakes is the Chevrolet Aveo. “Once again, we’re seeing the impact of the withdrawal of General Motors. It’s a cheap and cheerful little car, which is still worth buying if you’re shopping in that segment of the market,” he observed.

Number eight is the Hyundai ix35. “This came as a big surprise to me – because Hyundais tend to hold their value. I would grab one fast!” he advised.

Number nine is the Nissan Navara. “The Nissan NP300 Hardbody was recently slammed because of safety concerns and while the Navara is a completely different vehicle, it has not emerged unscathed. Some buyers are nervous, hence its resale value. The Navara is a superb vehicle. With these sort of resale values, it’s a real bargain!” he said.

Finally, in 10th spot is the Nissan Micra. “This situation won’t last long. The new Micra is a finalist in the 2019 AutoTrader South African Car of the Year and it has received widespread praise from both the judges and the buying public. Accordingly, I expect its resale value to rise in the short to medium term. This is yet another bargain to be grabbed before it’s gone,” he concluded.

Motorists wanting a free vehicle evaluation in Rand can request one at www.trueprice.co.za


 

About The Author

SADC Correspondent

SADC correspondents are independent contributors whose work covers regional issues of southern Africa outside the immediate Namibian ambit. Ed.

Following reverse listing, public can now acquire shareholding in Paratus Namibia

Promotion

20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.