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Resale values of late model Hyundais have been independently shown to be
markedly higher than car industry experts have been claiming.
Now using independent, real-time, on-line simulcast auctions conducted by
ManheimFowles, the largest car auction house in Australia instead of its
previous in-house tender process, Hyundai Motor Co Australia (HMCA) sold 336
used 2005-2006 Hyundai models in February and March where wholesale sale prices
paid by Hyundai dealers were up to 31 per cent higher than the average trade-in
values ascribed by Glass’s Guide, the best-known car industry used car value
data tracking house.
Hyundai SUVs starred, led by the first of the acclaimed Santa Fe CRDi
turbo-diesels to go under the hammer but every model bettered the Glass’s
values, most by between 12 and 25 per cent.
Low depreciation
Topping the auction results was a 2006 Santa Fe SX CRDi turbo diesel with
nearly 14,000 km which retained a massive 88 per cent of its new car recommended
retail price (rrp) as it sold for a significant 31.1 per cent higher than the
Glass’s estimate. This represents an extraordinarily low 12 per cent
depreciation in the car’s first year.
Five 2006 Santa Fe SLX CRDi seven-seater ex-HMCA cars with around 10,000km
each fetched an average 25 per cent more than Glass’s estimated, retaining 86
per cent of their new car rrp.
Nine various models of the petrol V6-engined 2006 Santa Fe similarly
attracted trade-in prices between 19 and 26 per cent higher than Glass’s, the
best being an 11,000 km SLX seven-seater retaining 82.3 per cent of new car
price, depreciating just 17.7 per cent in its first year.
Five 2006 Terracan Highlander CRDi 4WDs with high 31,000km odometers averaged
nearly 24 per cent better than Glass’s figure, retaining 78.4 per cent after
depreciating 21.6 per cent.
Tucson City overachieved by 21 per cent, Tucson V6 AWDs by between 11 and 16
per cent and a lone 2006 Sonata V6 with 10,000km was in demand, realizing 25 per
cent over Glass’s value.
All three 2006 Accent three-door hatches bettered Glass’s by 20 to 22 per
cent, the best depreciating just 17.5 per cent. The latest Elantra sedan
exceeded expectations by between 11 and 17 percent, the best 2006 Getz by 13 per
cent and eighteen ex-rental 2005 Getz three-door hatches with over 43,000 km
each overachieved by 11 per cent.
Reassuring result
“These high Hyundai resale values from independent auctions are the stuff of
a Mythbuster’s script,” said Oliver Mann, Hyundai’s general manager of
marketing.
“We and our Hyundai dealers have known for some time that Hyundai retained
values have actually been very competitive for quite some years and getting even
more so with our excellent newer models, as these auctions show, debunking some
public and media perceptions to the contrary.
“Depreciation is the highest car ownership cost and these high Hyundai
trade-in values mean minimized depreciation cost, especially in the car’s first
year of usage when it always peaks. This is a very reassuring result for Hyundai
owners who are now doubly comforted by the quality statement implicit in Hyundai
offering Australia’s first factory unlimited kilometre new car warranty within
the five years that Hyundai pioneered in Australia over eight years ago,” Mr
Mann said
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