Superminis and city cars dominate the used car market

(23/09/2009)

The tightening of purse strings across the nation has seen city cars and superminis dominate the used car market. HPI reports that the desirability for both sectors has been enhanced by people downsizing and the scrappage scheme, just two methods being utilised by car buyers as ways of trying to save cash.

“There is an almost endless demand for clean, low mileage models in the used market,” says Martin Keighley, HPI’s Valuations expert. “The traditional volume players such as Ford Fiesta, Vauxhall Corsa and the VW Polo have strong competition from the low volume players offering styles to suit everyone, from sporty to basic frugal models. Add this to their generally lower than average production of carbon emissions, and these cars offer guilt-free, greener motoring and good value. A winning combination!”

“The new Ford Fiesta is a striking car with a seemingly endless queue of buyers, but don’t be fooled by its popularity, as its high list price doesn't make it, in terms of depreciation, the best buy,” continues Martin Keighley. “The Honda Jazz is sensibly priced with a great reputation and good residuals, which is why it’s top of our league table. Other worthwhile contenders come in the shape of the Hyundai i20, a bargain but hard to get hold of because of it. One of the cheaper cars in this style is the Chevrolet Aveo, and coupled with its reasonable residual values, it tops our depreciation ranks. The sporty SEAT Ibiza and stylish Mazda2 are also great value.”

The average 3 year 60,000 miles forecast for all cars is 31.2% and the supermini sector average is 31.7%, so all of the top ten are above average on both counts. Cars in this sector represent the best balance for practicality, economy and depreciation.

Keighley concludes, “Superminis and city cars offer consumers obvious advantages, including fuel efficiency and good residuals, but they are thin on the ground in the used market. Competition has never been fiercer when it comes to these nippy little numbers.”

HPI’S TOP TEN SUPERMINIS (by residual value %)
1. Honda Jazz
2. Hyundai i20
3. SEAT Ibiza
4. Mazda2
5. Mitsubishi Colt
6. Suzuki Swift
7. Volkswagen Polo
8. Toyota Yaris
9. Chevrolet Aveo
10. Renault Clio, Ford Fiesta, Kia Rio

Related categories:  Chevrolet   Ford   Honda   Hyundai   Kia   Mazda   Mitsubishi   Renault   Seat   Supermini car   Suzuki   Toyota   Used cars and aftermarket   Volkswagen