Picanto is 2010’s smallest loser (From Daily Echo)

Picanto is 2010’s smallest loser

3:48pm Friday 28th January 2011 in Cars

The Kia Picanto lost the least amount of money through depreciation in 2010, according to a new report.

The car-buying website Parker’s conducted its annual investigation based on the average private resale values for 12-month-old cars with 10,000 miles on the clock.

In 2010 the Kia Picanto lost just £1,247 (around £3.42 a day) compared with £1,760 in 2009 and has climbed to the top with improved depreciation over the course of a year.

Because of the low purchase price the depreciation for the Picanto was around 20 per cent – meaning that sellers will get around 80 per cent of the original purchase price after a year of ownership.

Value brands dominated the top of the leaderboard, partly as a result of cheap purchase prices, but also due to vastly improved model ranges and extensive warranties, such as Kia’s seven-year warranty.

The Honda Jazz, which was in first place last year, has slipped to 76th position after losing £2,517 in 2010 as opposed to £1,379 in 2009.

“This is largely due to the model being a year older and with more second-hand examples the over-supply has pushed down values.

Small cars held 36 of the top 50 places due to their low initial purchase price and the increasing demand for efficient, cheap-to-run cars, but 12 of the positions in the top 50 were held by 4x4s, up from seven last year.

Kieren Puffett, editor of Parker’s, said: “New entries into the top 10 this year include the Skoda Yeti, the Audi Q5 and the Daihatsu Terios, all 4x4s, reflecting the increased level of interest in that sector. This is probably due to a change in perception due to improvements in off-roaders’ efficiency and the threat of persistent cold winters.’’ A general trend shown in the results is that average depreciation for the year was slightly higher, at 34 per cent, compared with 2009’s 33 per cent average.