Suzuki Jimny still offers the best residuals in the used car market

Following months of oversupply, the Australian used car market saw a 3.8% drop in December 2024 to 322,532 listings.

The Automotive Industry Report (AIR), compiled monthly by AutoGrab and the Australian Automotive Dealers Association (AADA), said the December market favoured buyers. Sales declined significantly, by 8.1%, to 181,724 units.

The Ford Ranger remains Australia’s best-selling used car, followed by the Toyota Hilux. In used EVs, the MG4 regained its position as the best-selling vehicle.

In the passenger segment, the Ford Mustang holds the best residual value at 97.0% in the 2-4-year category, while the Toyota Yaris maintains the top spot at 97.5% in the 5–7-year category. 

The Suzuki Jimny remains the top SUV in the 2–4-year-old category, with 110.7% retained value, and the Toyota Landcruiser remains the top sport SUV in the 5–7-year-old category, with 87.9% retained value.

AADA chief executive James Voortman says the average days to sell have increased to 48.7, the highest since October. This suggests that sellers are dealing with slower-moving stock. 

“This trend is expected to continue in 2025 as the growing oversupply of new vehicles creates a spillover effect into the used car market,” Voortman says.

“All states but Northern Territory and Western Australia experienced a fall in the number of cars listed for sale,” he says.

Retained values remain on a downward trajectory, with almost every vehicle segment across every age category experiencing a drop in value for the month, except for LCV-Utes in the 2–5-year age categories. Oversupply of new vehicles negatively impacts retained values for used EVs, potentially prompting sellers to hold on to their cars for shorter periods.

“Average days to sell a used EV have returned to August levels, with Western Australia and South Australia is experiencing increased demand, as reflected in a 19.8% and 10.7% rise in EV sales, respectively,” Voortman says.