Toyota and the Resale Value Retention
In the automotive industry, Toyota takes the top spot when it comes to many categories. Resale value is perhaps the one that potential customers love the most.
But why do Toyota vehicles have such good resale value?
The Four Factors of Great Resale Value
When it comes to resale value, there are four things that Toyota has consistently excelled at for decades: reliability, value, popularity, and reputation. Let’s examine how these things combine to make vehicles that still sell for big bucks even after five years of ownership.
You may have noticed old Toyota models from the 1990s still on the road. Most of them look to be in good condition too, with minimal-to-no rust depending on the owner and where you live. When a brand’s vehicles from 25-30 years ago with upwards of 300,000-500,000 miles on them are still in great condition, it signals to consumers that that brand’s vehicles are a quality product. Toyota nails this category.
Toyota models tend to be packed from top to toe with features. Toyota in particular is known for having almost all available safety features from the time period being standard on all trim levels. When a customer is looking to buy a vehicle, they want the best deal possible, and Toyota has consistently proven to sell its vehicles at affordable prices with a generous amount of features.
The Toyota Corolla is the most-produced car on the planet, with production numbers exceeding more than 43 million units. It is the very definition of a household name. It’s highly unlikely that anyone that has seen a car isn’t familiar with the Toyota Corolla. That kind of public awareness creates more demand.
When you combine a vehicle that lasts with an affordable vehicle that has a lot of features with a vehicle everyone knows the name of, you get a vehicle with a great reputation. And when that reputation stays rock-solid for decades on end, you have a recipe for a car that retains its resale value long after other cars have gone below half their original price.