Pre-owned cars in Australia have increased in value 45.2 per cent from 2020 to 2021 according to the Bureau of Labor Statistics making 2021 the year of the pre-owner car in Australia.
Supply chain issues are to blame with new car imports expected to get back to pre-pandemic levels in mid-2022.
When it comes to gainful investments, usually expensive luxury cars or supercars are not what the experienced buyer will consider, but the last few years of the global pandemic has otherwise taught us.
Pre-pandemic the average depreciation of any motor vehicle, as soon as you drove it out of the showroom, was between 10 – 15 per cent and the average car used to depreciate at the same rate each year. However, it seems the tide has turned and the trend is shifted – particularly in the luxury motoring market. So, what luxury car manufacturers have outperformed other investments during the pandemic?
The popularity of a particular model will affect the demand for used versions of that vehicle, one such example being the hardy Toyota Landcruiser, which is not quite a luxury car but whose demand has outpaced the supply of new versions in Australia.
Dual-cab 79 series GXL Land Cruisers introduced to the market in 2012 sold new for A$80,000 but now fetch around A$100,000 for a used model.
Popular means less depreciation when pre-owned, but for a car to actually appreciate in value, it has to be something particularly special and what about the top of the range, luxury supercars?
The Ferrari 812 Superfast is a two-door, 6.5 liter, V12 coupe and has increased in value over the last 3 years a whopping A$220,000 to A$750,000.
It is, as the name suggests, not a car for the faint-hearted – the output of its massive petrol engine an eye-watering 585kW at 718Nm of torque.
The Ferrari 812 Superfast can go 0-100km/h in 3.2 seconds, does a 10.8-second quarter mile at 230km/h, has a top speed of 342km/h and a long list of luxury additions like electronic brake force distribution, electronic stability control, multi-function steering wheel and automatic/self-levelling suspension among other additions.
But pandemic or not, they are evidently objects of desire for those with big enough wallets to afford one and have seen the unprecedented increase for 2019 models in particular.
Maybe they remind us of simpler, pandemic-free times.
If you are looking for an investment motor for the next few years, it’s another Ferrari that has seen a steady depreciation flat line and start to rise in 2021, the Testarossa.
For those familiar with Ferrari, this car will no doubt hold a special place in the heart, mid-engine, 12 cylinder beast sold for A$250,000 back in 1987 but now fetches around A$400,000.
With the huge increase in pre-owned car prices, there has never been a better time to sell your car, with even some high-performance luxury models fetching much more than what they used to, however, be sure to have a backup plan for transport as new cars have never been more in demand and your average Uber ride is more boring than arriving at work in a Ferrari.