It’s been said that the more things change, the more they stay the same. This is definitely not the case in the automotive industry, where constant change is the norm.
Kelley Blue Book (KBB), a provider of new- and used-car information, has just published a list of vehicles names that are headed for the delete bin after the current model year. 10 Cars Waving Goodbye in 2012 provides a look at the models that will not have 2013 versions and the reasons why those choices are being made.
“While we don’t necessarily subscribe to the ancient prediction of the world ending later this year, the world will come to an end for several vehicles that will not make it beyond 2012,” says Jack R. Nerad, executive editorial director and executive market analyst for Kelly Blue Book’s [url=http://www.kbb.com]www.kbb.com. “Because 2012 marks the final year for these 10 models, savvy in-market consumers likely can swing really good deals on some of the cars we identify. In addition, the automakers that produce them are making interesting changes in their new-car lineups to fill the space left by these departing models.”
The models singled out by the KBB website as driving off into the sunset are the Dodge Caliber, the Chevrolet Colorado pickup truck and its sibling the GMC Canyon, the Hyundai Veracruz, the KIA Sedona, the Lexus HS, the Mazda CX-7, the Mercedes-Benz R-Class, and a pair of Mitsubishi vehicles – the Eclipse and the Galant.
The vehicles on the list of the 10 Cars Waving Goodbye in 2012 fall into two categories – those likely to depreciate with passing time and those which should retain their value.
“The Caliber and the Galant are two models overdue for discontinuation, with previous model years 10 percent more affordable than their closest competitors,” says KBB senior market analyst Alec Gutierrez. “We expect this discount to increase one or two percent each year as they age.”
On the other hand, vehicles like the Lexus, the Mazda and the Colorado/Canyon pickups should experience little depreciation over time.
“The HS never hit volume targets Lexus needed to keep the vehicle in production. However, it will likely maintain a niche following for consumers seeking affordable green luxury,” Gutierrez says. “The Chevy Colorado or GMC Canyon faithful have nothing to fear in terms of expected depreciation once production ends.”
The KBB market analyst points out that some vehicles are simply put to pasture to make room for fresher brands. Such is the case with the CX-7, which Mazda discontinued to make room for the smaller CX-5 crossover. Gutierrez says that used Mazda CX-7s usually outperform other vehicles with best-in-class ratings and are expected to maintain strong value into the future.