The used cars were worth 25 percent more than this time last year due to the sharp increase in sales during COVID-19
Used cars in Australia are now worth a lot more than they were last year because of the coronavirus – especially SUVs and cars.
Demand for the much-loved Toyota LandCruiser all-wheel drive and the Toyota HiLux and Ford Ranger utes has skyrocketed.
The Australian used car market is booming, even as brand new vehicle sales have fallen for 29 months in a row.
In a bizarre series of circumstances, prices of used cars were 25 percent higher in August than a year ago, data from Datium Insights and Moody’s Analytics showed.
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Used cars in Australia are now worth a lot more than last year because of the coronavirus – with SUVs and utes in particular in demand. Pictured is a 2018 Toyota LandCruiser Prado listed on carsales.com.au. Prices for this used four-wheel drive have risen by 27 percent in a year
The online advertising site Carsales.com.au has revealed which used cars were particularly sought after.
Canstar editor-in-chief Effie Zahos said a reduced supply of new cars, due to the COVID-19 pandemic, had seen Australians move to the second-hand market.
Most Popular Used Cars
1. Toyota LandCruiser
2. Toyota HiLux
3. Ford Ranger
4. Toyota LandCruiser Prado
5. Toyota Corolla
6. Holden Commodore
7. Volkswagen Golf
8. Mercedes-Benz C-Class
10. Toyota RAV4
Source: Carsales.com.au data for September 2020
“Aussies, we’ve decided we want cars again,” she told the Today show.
‘It is a combination of the new car offer, a bit more difficult to get in, and also more people who now want to have their own car instead of using public transport because of COVID and also families who stick to their existing car .
‘This creates a situation in which in many cases you could now sell your car, a used car, for much more because there is a demand for it.’
The Toyota LandCruiser was the most popular used car in Australia, followed by the Toyota Hilux, Ford Ranger, Toyota LandCruiser Prado and Toyota Corolla.
“They are the most wanted cars at the moment,” said Ms Zahos.
“It is probably a good time, if you have a car that you want to get rid of, you want to cash it in a bit, there is demand for that.”
The Toyota LandCruiser Prado median price on Carsales is up 27.2 percent to $ 51,529, compared to September 2020 compared to a year earlier.
Host Karl Stefanovic joked today that he was considering selling his $ 140,000 Toyota LandCruiser Sahara and buying a new US RAM pickup.
“I could unhook my LandCruiser and get a RAM. That will make me popular at home, ”he said.
Toyota SUVs had four places in the top 20 of popular used cars with the RAV4 at number 10 and the Kluger at number 17.
Canstar editor-in-chief Effie Zahos said a reduced supply of new cars as a result of the COVID-19 pandemic had seen Australians move to the second-hand market
Today host Karl Stefanovic joked that he was considering selling his $ 140,000 Toyota LandCruiser Sahara and buying a new US RAM pickup.
Utes took five places, with the Toyota Hilux and Ford Ranger the second and third most popular used vehicles, ahead of the Mitsubishi Triton at number 11, the Nissan Navara in 13th place and the Isuzu D-MAX in 20th place.
Small hatches had four places with the Toyota Corolla in fifth place, the Mazda3 in number 9, the Volkswagen Golf in seventh place and the Hyundai i30 in twelfth place.
Prestige cars were also there, including the Mercedes-Benz C-Class at number 8, the BMW 3-Series at number 16 and the Ford Mustang at number 15.
Most popular used cars are also consistently in Australia’s top ten most popular new cars.
The Toyota LandCruiser (pictured) was the most popular used car in Australia
However, demand for used cars contrasts sharply with brand-new cars – with sales in August 20.4 percent weaker than the same month in 2019, data from the Federal Chamber of Automotive Industries showed.
Brand-new SUV sales are up 17 percent over the past year, while new car demand is down 35.9 percent.
Passenger car sales are 42.8 percent weaker annually.
The Toyota LandCruiser, Australia’s most popular used car, is not particularly popular in showrooms, with brand-new sales down 14.8 percent in August from a year earlier.
There was also strong demand for well-loved vehicles, including the Toyota HiLux (recently replaced model shown) and the Ford Ranger