Are you currently looking to buy (or sell) a Mitsubishi Lancer in Shanghai? Vehiclus analyzed the used car market of all metropolitan areas in China to establish a pricing profile of various Mitsubishi models depending on their age, technical condition, optical condition, and mileage. If you want to maximize your profits when selling your Lancer (or to be certain to not be ripped off when purchasing a Mitsubishi Lancer) it is of value to understand most price-determining variables.
Shanghai is a metropolitan area with 22315474 inhabitants. However, there are usually not many Mitsubishi Lancer for purchase on the market. That's why the supply is little and the demand depends on various of parameters such as car model reputation, brand popularity, and used car pricing.
As illustrated in the figure below, cars of the manufacturer Mitsubishi and specially of the model Lancer depreciate in a very predictable way. The average value of the Lancer will be decreased by 13% ($28,479) after only 1 year. After 3 years, the car typically is sold for approximately 63% of its original selling price ($20,650) while it will only be valued at 29% of the original price after 7 years ($9,220). The Lancer's value after twelve years is only 12% of its original price depending on its condition of course.
One more way to describe vehicle depreciation is to study the decrease of value over miles driven. The Mitsubishi Lancer depreciation curve below shows this phenomenon for the city of Shanghai. The Lancer looses most of its resell price (~ 46%) within the first 30,000km of its mileage. The average price for a Lancer at that usage level is ca $18,384. After that the depreciation plateaus: at 90k kilometers the Mitsubishi Lancer is valued for $10,881 in Shanghai and for $5,312 at 180k kilometers of mileage.
The last value that heavily impacts the sell price of a used car is the technical and optical condition of the vehicle. The table below shows the devaluation of a Mitsubishi Lancer according to its year and its condition.
|Vehicle Year||Mitsubishi Lancer Condition|
|Mitsubishi Lancer variations:|
|LANCER SPORTBACK 1.8L Invite|
|LANCER EVOLUTION X GSR|
|LANCER SPORTBACK 2.0L DI-D Inform / Invite|
|LANCER EVOLUTION IX|
|NOUVELLE LANCER 2.0L DI-D Inform / Invite|
|LANCER EVOLUTION 2.0L Turbo MR TC-SST|
|LANCER SPORTBACK 2.0L DI-D Intense / Instyle|
|LANCER SPORTBACK 2.0L DI-D Inform / Invite / Diamant|
|LANCER EVOLUTION X GSR/MR TC-SST|
|LANCER SPORTBACK 1.8L Intense|
|LANCER EVOLUTION VIII|
|NOUVELLE LANCER 2.0L DI-D Intense / Instyle|
|LANCER EVOLUTION 2.0L Turbo GSR|
|LANCER SPORTBACK 1.8L Intense CVT|