Which Toyota Hilux trim holds its value better?
South Africa’s best-selling vehicle, the Toyota Hilux, is a local legend within the automotive industry, with thousands of new Hilux models joining the local vehicle population on a monthly basis. Today we determine which Hilux variant holds its value best.
Introduced in 2016, the locally produced Toyota Hilux has already established itself as one of the most popular Hilux models among the eight generations of this bakkie icon, which dates back to the late 1960s. The eighth-generation models replace the older 2.5 and 3.0-litre turbodiesel engines and with new 2.4 and 2.8-litre turbodiesel units while the 2.0, 2.7 and 4.0-litre naturally aspirated petrol engines remained in the range when it was introduced.
To establish the value retention of the current-generation Hilux models, we have to place some parameters in place as there are nearly 2 000 examples listed on AutoTrader. We set a mileage cap of 20 000km per year and have used models from the year where the current generation Hilux was introduced, 2016. There were no fewer than 23 derivatives available in 2016, we have decided to remove the Single Cab model and focus on the Double and Xtra Cab body styles, leaving us with 13 models to determine residual value on.
We consider at least five examples of each model to be statistically significant enough to use for our comparison, which has yielded 10 model variants among the near 100 examples that qualify for our criteria. Let us determine which Hilux model holds its value best.
Xtra Cab
2016 2.4 GD-6 Raised Body SRX 6MT
New Price: R 333 900
Current Market Value: R349 900
Value Retained: 104%
While we know the Hilux models are renowned for their phenomenal residual value, we were not anticipating the average retained value to exceed the original list price as it did in the case of the manual SRX Xtra cab models.
2016 2.8 GD-6 Raised Body Raider 6MT
New Price: R410 900
Current Market Value: R380 487
Value Retained: 92.59%
The non-4x4 version of the 2.8-litre Raised Body Raider Xtra Cab retains its value exceptionally well, while the sheer number of used examples on AutoTrader means that this is a popular variant.
Double cab (petrol)
2016 2.7 VVTi Raised Body SRX 5MT
New price: R377 900
Current Market Value: R343 722
Value retained: 90.95%
Despite not being the most popular Hilux variants, the entry-level Double Cab petrol models appear to retain their value well.
2016 4.0 V6 Raised Body Raider 6AT
New price: R529 900
Current Market Value: R450 000
Value retained: 84.92%
The thirsty V6 petrol Hilux models’ resale values are still strong in relation to most vehicles in the market.
2016 4.0 V6 Raised Body Raider 6AT 4x4
New price: R547 900
Current Market Value: R459 900
Value retained: 83.93%
As to be expected, the four-wheel drive version of the V8 Double Cab Hilux models has similar residual values to the two-wheel drive V6 models, again, impressive for a six-year-old vehicle, but lower than other Hilux variants.
Double cab (petrol)
2016 2.4 GD-6 4X4 SRX 6MT
New price: R414 900
Current Market Value: R388 057
Value retained: 93.53%
Predictably, the Double Cab 4x4 SRX 2.4 models have retained their respective values incredibly well, losing less than 6.5% since new.
2016 2.8 GD-6 Raised Body Raider 6MT
New price: R468 900
Current Market Value: R393 753
Value retained: 83.97%
Interestingly, the second most common model found in our search turned out to have one of the worth value retention rates, no doubt because many of the models were close to the 120 000km mileage restriction.
2016 2.8 GD-6 Raised Body Raider 6AT
New price: R485 900
Current Market Value: R478 237
Value retained: 98.42%
The rise in popularity of automatic gearboxes in the bakkie segment has been unprecedented, cementing the popularity of the 4x2 automatic 2.8 Raider models in the used market.
2016 2.8 GD-6 4X4 Raider 6MT
New price: R529 900
Current Market Value: R456 497
Value retained: 86.14%
2016 2.8 GD-6 4X4 Raider 6AT
New price: R547 900
Current Market Value: R453 028
Value retained: 82.6%
It is interesting to note that the four-wheel drive version of the 2.8-litre Double Cab Raider Hilux model was both the most numerous in our search results and also the model that retained its value the least.
* Pricing was accurate at the time of writing but may change without any prior notice.
Verdict
Having looked at the resale values of 2016 Toyota Hilux models that qualify for out comparison, it becomes clear that a Hilux is a solid purchase for those interested in strong resale value. Of the ten variants we analysed, the 2016 2.4 GD-6 Raised Body SRX 6MT models appeared to retain their value best, being sold for slightly more in the pre-owned market versus when they were new. This is likely due to the steep increase in new vehicle pricing, making these over R100 000 cheaper than a new Xtra Cab Raider model.
