Sunday, 11 Oct 2020 11:42 AM MYT
Federation of Motor and Credit Companies Association of Malaysia president Datuk Tony Khor said year-on-year July sales spiked over 25 per cent to 37,800 units, while both August and September registered over 17 per cent y-o-y growth. He said the average yearly turnover for used cars in recent years has been hovering around 400,000 units worth over RM15 billion in total, based on an average value of RM40,000 per unit.
“The strong demand for used cars during the MCO is for cars of the average value of between RM30,000 and RM40,000. “Normally, Myvi in and out quite fast. For the very sellable models we do not need to put too much effort on advertising. The demand for Myvi has also ensured that the model’s resale value remains high,” he said.
In comparison, a Proton Iriz 1.6 Premium CVT that cost RM59,731 in 2015 could sell on average for RM30,277.32 in 2019 — a depreciation of 49.31 per cent, or nearly half, the report said.