Color is important. The color of your new vehicle can influence both its cost of ownership and its resale value. This is due to a multitude of factors, including changing color preferences, where you reside, and if manufacturers have discontinued the color of your car.
According to PPG Industries, white is the most popular color in the United States (35%), followed by black (17%), silver (12%), and gray (3%). (12 percent). White is the most popular hue in Europe, Asia, and South America, so you’re in good company if you choose that.
But it’s not only conventional colors that sell well; unusual hues like orange and lemon yellow, as well as neutral colors like beige and gold, do well on the used vehicle market, although they account for less than 3% of the new sales market.
- Yellow (4.5%)
- Orange (10.7%)
- Purple (13.9%)
- Red (14.0%)
- Green (14.0%)
- Blue (14.3%)
- Gray (14.3%)
- Beige (14.4%)
- Silver (14.8%)
- White (15.5%)
- Black (16.1%)
- Gold (16.7%)
- Brown (17.8%)
The average three-year depreciation is 15.0%.
Demand and supply In the business of buying and selling, it’s critical to examine supply as well as whether the supply has enough demand to justify the price. When we apply this theory to automobile colors, we get a more accurate representation (pun intended). Yellow and orange, according to observers, are flamboyant colors that are frequently found on low-volume sports and muscle vehicles or on rare special edition models that keep their prices high. As a result, in the used market, individuals are willing to pay a premium for unusual hues like these.
Colors like gray, black, and white, on the other hand, are just overused. In fact, vehicles painted in these simple and modest hues will account for 78% of car sales in 2021. Many people choose grayscale colors not because they enjoy them but because they believe everyone else does. It’s a safe bet for dealers, so they carry it. As a result, if there is adequate supply to fulfill demand, values will stagnate or make little to no advancement relative to the industry or segment average.
Analysts found a decline in the value of each automobile color across important vehicle classes such as SUVs, pickup trucks, sedans, coupes, convertibles, and minivans. According to the study, showy, unusual colors are the least depreciating for SUVs, with yellow SUVs actually growing in value after three years. Orange and green SUVs depreciate the least, whereas brown and gold SUVs depreciate more than the class average.
Beige is the least depreciating color for pickup vehicles, followed by orange and gray. Toyotas, on the other hand, account for the great majority of available beige pickups, and their excellent value retention helps beige vehicles retain their worth.
Sedans depreciate at a rate of 14% on average over three years. Purple has been determined to be the least depreciating color; bright hues such as red, green, and orange keep their value significantly better than white, brown, and black. Green and brown minivans depreciate less than black and red ones.
Coupes and convertibles are often designated as sportier vehicles, so having brighter colors would increase their value. Orange coupes keep their value better than white or black coupes. Orange coupes depreciate at a rate of 5.6%, compared to the segment average of 8.5%. Yellow is the least-depreciating color for convertibles. Grayscale hues depreciate the most in the convertible sector. People who buy sports vehicles want to be seen, so more prevalent colors are less desirable.
The location of your home influences both the operational expenses and the resale value of the car you buy or sell. Because white and silver reflect light, they are more efficient in warm and sunny climates because the air conditioner does not have to work as hard. When the air conditioner does not have to work as hard, the vehicle gets better gas mileage.
In contrast, where winters are lengthy and cold, black and dark blue automobiles are a better choice. Darker colors absorb heat, requiring the heater to work less hard, resulting in better fuel economy.
Colors are constantly updated by manufacturers. However, it is occasionally merely a name change or the addition of a metallic variant. When leasing or purchasing a vehicle, inquire with the dealer whether the color you want is new or has been available for several model years. An earlier color may be discontinued shortly, raising the cost of repairing dings and dents.