WOBURN, Mass. — In a new study, automotive research firm and car search engine iSeeCars.com found that while only 3.4% of new cars are resold as used within the first year of ownership, German and British luxury vehicles are given up much more frequently.
iSeeCars.com analyzed more than 46 million individual new car sales and determined how many MY-2014–’17 new cars were resold as used within the first year with at least 1,000 miles on the odometer. The results show that the top 10 models are given up more than 2.5 times as frequently as the average vehicle.
Eight of the top 10 models are from luxury brands, with an even split between German and British automakers. Nissan, which has two models in the top 10, stands out as the only mass-market manufacturer on the list.
- Mercedes-Benz C-Class (12.4%)
- BMW 3 Series (11.8%)
- Land Rover Discovery Sport (11.8%)
- Land Rover Range Rover Evoque (10.9%)
- Mini Clubman (10.7%)
- BMW X1 (10.4%)
- BMW X3 (9.0%)
- Nissan Versa Note (9.0%)
- Jaguar XF (8.8%)
- Nissan Versa (8.7%)
iSeeCars CEO Phong Ly said reliability was a factor for the “top”-ranked German factories.
“Despite the popularity of these vehicles, they generally have below-average reliability ratings from Consumer Reports, which could contribute to why owners get rid of them so quickly,” Ly said. “Another possible explanation is that BMW and Mercedes offer incentives to their dealers to buy new cars to use as loaner vehicles, which are then sold as used when they are still under a year old. In turn, this boosts the brand’s new car sales and introduces current customers to new models when they bring in their vehicles for service.”
To read the full report, including segment and market rankings, click here.
Originally posted on Auto Dealer Today