Are you currently looking to buy (or sell) a Kia Venga in Johannesburg? Vehiclus studied the local used car market of all cities in South Africa to establish a pricing profile of various Kia models depending on their age, technical condition, optical condition, and mileage. In order to optimize your profits when selling your Venga (or to make sure to not be overcharged when purchasing a Kia Venga) it is of value to learn most price-establishing variables.
Johannesburg is a metropolitan area with a population of 2026469 people. Nevertheless, there are not many Kia Venga available on the market. Hence, the supply is not high and the demand depends on a multitude of parameters for example season, brand popularity, and brand competetivness.
As shown below, cars of the make Kia and especially of their model Venga depreciate in a very normal process. The mean price of the Venga will be lowered by 13% ($14,418) after just 1 year. After 3 years, the car typically goes for only 63% of its initial asking price ($10,384) while it will only be priced at 28% of the MSRP after 7 years ($4,548). The Venga's value after 12 years is only 11% of its initial price depending on its condition of course.
One more way to quantify vehicle depreciation is to study the loss of value vs miles driven. The Kia Venga depreciation curve below illustrates this phenomenon for the city of Johannesburg. The Venga looses most of its resell price (~ 45%) within the first 20,000miles (30,000km) of its mileage. The average price for a Venga at that mileage is $9,288. After that the devaluation slows down: at 90,000km the Kia Venga is sold for $5,420 in Johannesburg and for $2,563 at 180k kilometers of mileage.
The last parameter that significantly impacts the sell price of a used car is the technical and optical condition of the vehicle. The table below shows the deflation of a Kia Venga according to its year and its condition.
| Vehicle Year | Kia Venga Condition | ||
|---|---|---|---|
| fair | good | excellent | |
| 2017 | $15,782 | $16,099 | $16,417 |
| 2016 | $13,878 | $14,158 | $14,437 |
| 2015 | $12,110 | $12,354 | $12,597 |
| 2014 | $10,477 | $10,688 | $10,898 |
| 2013 | $8,978 | $9,159 | $9,340 |
| 2012 | $7,615 | $7,768 | $7,921 |
| 2011 | $6,387 | $6,515 | $6,644 |
| 2010 | $5,293 | $5,400 | $5,506 |
| 2009 | $4,335 | $4,422 | $4,509 |
| 2008 | $3,511 | $3,582 | $3,653 |
| 2007 | $2,823 | $2,880 | $2,937 |
| 2006 | $2,270 | $2,315 | $2,361 |
| 2005 | $1,851 | $1,888 | $1,926 |
| 2004 | $1,568 | $1,599 | $1,631 |
| 2003 | $1,419 | $1,448 | $1,476 |
| 2002 | $1,406 | $1,434 | $1,462 |
| Kia Venga variations: |
|---|
| VENGA 1.4 CRDi |
| VENGA 1.6 BVA |
| VENGA 1.4 ISG |
| VENGA 1.4 |
| VENGA 1.4 CRDi ISG |