LAHORE, Pakistan: CarFirst – Pakistan’s leading used-car trading platform – has released the top used car trends of 2017, according to which, in terms of the most popular car brands and models sold in 2017, Suzuki, Toyota and Honda secured the top three positions respectively.
These trends have been compiled from CarFirst’s internal data including website leads and vehicles purchased during 2017.
The most sold models on the list included the Suzuki Alto (2006-2010), Mehran (2011-2013), and Cultus (2009-2012); the Toyota Corolla (2009-2011), Vitz (2006-2008), and Aqua (2013); and lastly, the Honda City (2006-2012) and Civic Reborn (2009-2012). On average, the Suzuki Mehran topped the charts with highest number of second hand vehicle sales in 2017.
Despite their high demand in 2017, some of these car models may witness a drop in prices in the month of March 2018.
According to CarFirst’s market insights, the factors causing this depreciation are the introduction of newer models with better features, higher production quality, and greater availability than previous models. Typically, vehicle models with an older shape are preferred less by the general public, reducing their demand in the next month.
For some models the pricing trends are likely to remain stable in March as well. The Suzuki Alto is one such car, as within the range above it remains one of the most sought after used vehicles in the local market. The Toyota Vitz is another very popular used vehicle and is expected to remain stable due to high demand, with a chance of minor price appreciation. However, consumers should keep in mind that the condition of older models plays a key role in the price of each used vehicle.
CarFirst will be releasing its monthly market insights regularly for the benefit of its valued consumers, helping both buyers and sellers get the best deal for their car. Its customer helpline receives thousands of calls each day, and will be sharing its data and trends openly to improve the transparency and security of the used car market.