Are you currently in the market to buy (or sell) a Toyota iQ in Mumbai? Vehiclus studied the local used car market of all metropolitan areas in India to determine a pricing profile of various Toyota models depending on their age, technical condition, optical condition, and mileage. If you want to maximize your profits when selling your iQ (or to make sure to not be overcharged when purchasing a Toyota iQ) it is useful to know most value-determining factors.
Mumbai is a city with a current population of 12691836 people. Nevertheless, it is hard to find more than three Toyota iQ on the market there. That's why the supply is little and the demand depends on a multitude of parameters for example brand reputation, mileage, and reliability.
As pictured below, cars of the make Toyota and specially of the model iQ loose their value in a very customary process. The average value of the iQ will be decreased by 13% ($25,516) after just 1 year. After three years, the car typically costs only 61% of its original asking price ($18,309) while it will only be priced at 29% of the MSRP after 7 years ($7,977). The iQ's value after twelve years is only 10% of its original price depending on its condition of course.
Another way to analyze vehicle depreciation is to examine the decrease of value vs mileage. The Toyota iQ depreciation curve below illustrates this phenomenon for the city of Mumbai. The iQ looses most of its value (~ 45%) within the first 30k kilometers of its mileage. The mean price for a iQ at that usage level is ca $16,530. After that the devaluation plateaus: at 90k km the Toyota iQ is sold for $9,612 in Mumbai and for $4,499 at 180k km of mileage.
The last parameter that heavily effects the sell price of a used car is the technical and optical condition of the vehicle. The table below shows the deflation of a Toyota iQ according to its year and its condition.
|Vehicle Year||Toyota iQ Condition|
|Toyota iQ variations:|
|iQ 90 D-4D FAP|
|iQ 100 VVT-i MultiDrive|
|iQ 68 VVT-i MultiDrive|
|iQ 100 VVT-i Stop & Start|
|iQ 68 VVT-i|