Corolla top for budget buyers
Consumer enquiries for vehicles priced under $5,000 have increased by 1.2 per cent in the past year and the Toyota Corolla is the most in-demand model, according to new data from Trade Me Motors.
Suzuki’s Swift was second and the Nissan Tiida third for interest from budget-conscious buyers in the 12 months to May 11 this year.
Brendan Hall, head of motors at the online platform, says the enduring popularity of the Corolla, pictured, comes down to its reputation for dependability, which is important for many in the current economic climate.
“The Toyota Corolla has been a staple on Kiwi roads for decades, and for good reason,” he adds.
“When you’re buying your first car, especially on a tight budget, reliability is the absolute top priority.
“Buyers know that with a Corolla, they’re getting a bulletproof engine, excellent fuel economy, and cheap parts if anything does need fixing. It’s the ultimate peace-of-mind purchase.”
Hall notes there has been a “squeeze at the entry-level end of the market”, with demand remaining strong and buyer intensity increasing by 22 per cent per vehicle.
It means when a good budget car is listed online, it gets snapped up fast and the Trade Me speed-of-sales data reflects that.
The median days on site for vehicles under $5,000 is currently 14 days, while highly sought-after models such as the Corolla and Vitz are averaging about eight days on site.
A regional breakdown of the numbers shows the Swift beat the Corolla as the most enquired-about car in Auckland and Hawke's Bay.
The Subaru Legacy took the number one spot in Otago, Toyota’s Hilux was the most sought-after budget vehicle in Gisborne and the Toyota RAV4 led the way in Marlborough.
“It’s fascinating to see how local geography dictates what buyers are looking for,” says Hall.
“Even on a strict $5,000 budget, Kiwis are highly practical. A city dweller needs a nimble hatchback for tight parking, while a buyer in Otago needs the all-wheel-drive capability of a Legacy to handle winter roads. It proves that there's really no such thing as a one-size-fits-all budget car in New Zealand.”
Most enquired-about models under $5,000
Model – Estimated Value
1. Toyota Corolla – $3,152
2. Suzuki Swift – $3,590
3. Nissan Tiida – $3,531
4. Mazda Demio – $3,593
5. Honda Fit – $3,430
6. Mazda Axela – $3,484
7. Volkswagen Golf – $2,946
8. Subaru Legacy – $3,041
9. Nissan Leaf – $3,509
10. Toyota Vitz – $3,360
Note: The under $5,000 price filter was applied using Trade Me’s estimated listing value, which serves as an approximation of a vehicle’s value rather than the seller’s stated asking price.
