Your used car is a-ppreciating. Seriously.

  • Australia’s most popular new car in 2018, the Toyota Hilux, has a private sale value equivalent to the original MSRP of $56,000 today.
  • The global used car price index is up 37.1% in August 2021 compared to the same month in 2019 before the COVID-19 pandemic.
  • Surging used car valuations have been the result of global manufacturing shortages that are beginning to normalise amid the global recovery.

When Jarrod Thalon drove his brand-new Toyota Hilux off the lot for $56,000 in 2018, he never expected to break even three years later during a global pandemic, and after clocking up 72,000km on the odometer.

Like Mr Thalon, many Australian drivers are cashing in their old bangers to fetch as much, if not more, than the original purchase price for the car.

It’s a global phenomenon.The Manheim Used Vehicle Value Index, which measures the fair market values of used vehicles, rose by 37.1% in August 2021 compared to the same month in 2019 before the pandemic.

You can read the full story at Grafa

THE WEEK AHEAD

WED | 30th August

Li-S Energy Debuts on the ASX

IPO at $0.85/share, aiming to raise $34 million.

THUR | 1st September

Australia Gross Domestic Product (GDP) (Q2)

Did Australia’s economic growth continue to decline in the second quarter as lockdowns were imposed on the east coast to control the delta COVID-19 outbreak?

FRI | 2nd September

Australia Trade Balance (July)

Did Australian exports continue to exceed Aussie imports in the month of July?

Rubicon Water debuts on the ASX

PO at $1.00/share, aiming to raise $42.6 million.

FRI | 3rd September

US Nonfarm Payrolls (August)

As vaccination across the US increases and the economy moves closer pre-pandemic ways, did the number of Americans joining the workforce continue to rise in August?

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Grafa is a one-stop charting tool that allows users to quickly and easily compare the market performance of companies, government data and financial sectors.

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