Which GWM Steed 6 trim holds its value better?
An important aspect of buying any vehicle is knowing how well it keeps residual value. Not only does mileage and model year play a big part in depreciation but also the trim level. We take a look at the two trim levels offered with the GWM Steed 6 to find out which holds its value better.
The current iteration of the GWM Steed 6 was first introduced locally during 2014 and was offered as a leisure option within the GWM LCV range. At the time the Chinese manufacturer launched an offensive in the segment by introducing three new models namely the Steed 5, Steed 5E and Steed 6, the latter being the flagship offering.
Related: GWM Steed 6 test drive: make sure to check these features out.
The Steed 6 is offered in two trim levels, the lower specified SX and the flagship Xscape. Although the two variants might appear to be very similar from the outside, the Xscape offers a host of additional comfort and safety options not found on the SX, from cruise control and a radio compatible with AUX and USB inputs to four more airbags and hill-start assist.
New model pricing
Both the Steed 6 in SX guise and Xscape guise will offer you the same 2.0-litre, turbocharged, diesel motor coupled a 6-speed manual gearbox. The configuration is capable of 105 kW and 305 Nm of torque. It is when you take a closer look at the safety and comfort equipment where you will notice the difference. The lesser specified SX derivative is priced at R299 900 whereas the flagship Xscape variant sells for R329 900 when new.
Both models come with a 5-year / 100 000 km warranty and a 3-year / 45 000 km service plan with the service intervals scheduled at 10 000 km.
Used model pricing
Finding a used model of the Steed 6 is far and few in between, however, we did manage to find a few options to conduct a comparison with. Provided that the used market does not contain plenty of these models, the models we did find were not older than 2 years and had less than 50 000 km on the odometer.
GWM Steed 6 SX
At the time of writing this article, the average price of a used GWM Steed 6 in SX guise is R254 375. A new Steed 6 SX will set you back R299 900, thus over the short period this variant has lost a total of R45 525 or 15.1% of its original value.
GWM Steed 6 Xscape
The average price of a used GWM Steed 6 in Xscape guise, at the time of writing this article, is R254 900. A new Steed 6 Xscape will set you back R329 900, thus over the short period this variant has lost a total of R75 000 or 22.7% of its original value.
Conclusion
When looking at these figures, we need to take into account that the test sample is very small with very few used examples available at the moment. Thus, you might find examples of both the Steed 6 derivatives that have not seen this much reduction in residual value. However, from the calculations that have been done, the GWM Steed 6 in SX guise seems to keep its value better than the Xscape derivative.
Recommended next:
GWM Steed 6 test drive: make sure to check these features out.
