It is found that there is a close relationship between car color and the value of used cars, and the value preservation rate of yellow is the highest.
CTOnews.com, July 9 (Xinhua)-- according to a new study by iSeeCars, a data-driven car search and research company, the color of a car can affect the preservation rate of a vehicle, and there may even be a gap of $5000. The study analyzed the pricing data of more than 1.3 million three-year-old used cars in the past year to see which colors performed best in preserving value.
Carl Brauer, executive analyst at iSeeCars, said that the color of the car is one of the main considerations for consumers after deciding on the brand and model, and choosing the right color can help reduce the devaluation problem faced by second-hand car owners.
The study found that yellow had the highest average preservation rate of all cars in the 2022 and 2023 reports, and this year's report showed that yellow cars depreciated by only 13.5% after three years, 9 percentage points lower than the average depreciation rate of 22.5% for all vehicles. Yellow is not only the color with the highest value preservation rate of all cars, but also the color with the highest value preservation rate for certain types of vehicles such as sports cars, convertibles and SUV.
CTOnews.com noted that in addition to yellow, other colors with higher preservation rates are beige, orange, green and red. However, these colors do not apply to all types of vehicles. For example, beige and orange are the top two colors in off-road trucks, while brown and red are the best choices in cars. Brauer points out that these conservative colors may be more in line with the preferences of consumers of cars and off-road trucks.
On the contrary, gold has the lowest preservation rate of all cars, depreciating 25.9% three years later, 3.4 percentage points higher than the average. Overall, other colors with high depreciation rates are brown, black, silver and gray. Brauer says these colors are too common to help cars maintain their value.
Future reports may show different results as the supply and demand of some colors in the market change. Perhaps by 2024, there may be a new color to replace yellow as the most popular color for used cars.
