IndependentBlack, white or gray: it may sound a bit monotonous, but if your car is this color you can count on the necessary retention of value if you ever want to sell it. In addition, there are a few other elements that determine the residual value of a vehicle. Independer.be will show you the ropes.
Bright colors rarely popular
Chemical company BASF recently announced the most popular car colors of 2023. Just like in previous years, the classics are once again in the lead worldwide.
As in previous years, four classics worldwide are in the lead: white, grey, black and silver-grey. These four colors also cover more than 75 percent of the car market in the EMEA region (Europe, the Middle East and Africa, ed.). White is the leader, accounting for 29 percent of the cars produced.
Bright car colors score well in Asia and the Pacific region. Red (5%), green (2%), orange (1%) and yellow (1%) are much less popular in Belgium. Of all the brighter colors, blue is the most popular color in the EMEA region at 9 percent.
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The top 5 most popular colors in the EMEA region
1. White: 29%
2. Gray: 21%
3. Black: 20%
4. Blue: 11%
5. Silver gray: 9%
Why are these colors so popular?
There are several reasons why white, gray and black (and to a lesser extent silver) dominate such a large part of the car market. Because they are rather modest and inconspicuous colors, more people choose them anyway. In addition, these basic colors are often free and included in the standard sales price.
As a result, cars with these colors often have a higher residual value. Some buyers choose just one of these colors so that they can be assured of a good price if they ever sell their vehicle. But there are other elements that are important for the value retention of your car.
• The brand: German cars are generally worth more for longer, but there are striking differences between the brands. For example, a BMW decreases in value faster than, for example, an Audi. A BMW 3-series loses its value by an average of 15 percent per year, while an Audi A4 loses ‘only’ 12 percent.
Reading tip: Buying a car in Germany can easily save you a few thousand euros. But how do you start?
• The number of doors: In general, five-door cars are more popular than cars with only three doors.
• Dents and scratches: a car in good condition yields more than a less well-maintained model. If the car is clean and smoke-free and there are no dents or scratches in the body, then this is good for the value.
• The varnish: Not only the color affects the value. Some types of varnish are more expensive and sought after than others. Cars with metallic paint are up to 2 percent more expensive when resold.
• Year of construction and mileage: how old a second-hand car may be depends very much on the make and model. A 15-year-old BMW can be much more reliable and fully equipped than another 10-year-old brand. This also applies to the mileage. You pay more for a car from a more stable brand that has more kilometers than for a less popular brand with fewer kilometers on the odometer.
• Accessories: With air conditioning and a built-in navigation system you increase the value of a car.
• Environmental friendliness: Environmentally unfriendly cars are already banned in major cities and this will only increase. The cleaner your car, the more valuable it is and the more you get when you sell it. Insuring an electric vehicle is cheaper than a diesel or hybrid.
• Compact is better: most large cars use more fuel, and they are also more expensive to insure. The market is smaller and their price falls faster. So go for more compact models, which are much more popular and cheaper to use. As a result, they retain their value more often.
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Read more on Independer.be:
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This article was brought to you by our partner Independer.be.
Independer.be is an independent comparator that helps you compare and take out insurance, telecom packages and other fixed costs.
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