Kbb.com Predicts Impact of 10 Cars Being Discontinued in 2012
IRVINE, CA – Kelley Blue Book announced a list of 10 vehicles being discontinued after the 2012 model-year, providing commentary about each car and the plans each automaker has to fill the void left by the outgoing model.
The 10 vehicles being discontinued in 2012 are:
- 2012 Dodge Caliber
- 2012 Kia Sedona
- 2012 Mitsubishi Eclipse
- 2012 Mitsubishi Galant
- 2012 Mazda CX-7
- 2012 Lexus HS Hybrid
- 2012 Mercedes-Benz R-Class
- 2012 Hyundai Veracruz
- 2012 GMC Canyon
- 2012 Chevrolet Colorado
According to KBB, the 10 vehicles headed for retirement this year fall into two camps of expected depreciation. First, the Dodge Caliber, Kia Sedona, and Mitsubishi Galant already are significantly more affordable than comparable vehicles in their segment, and they likely will continue to underperform as time goes on.
"The Caliber and Galant are two models overdue for discontinuation, and with previous model years 10 percent more affordable than their closest competitors," said Alec Gutierrez, senior market analyst of automotive insights for KBB. "We expect this discount to increase one or two percent each year as they age."
KBB said it does not expect a significant drop in value for the Kia Sedona as it also is considerably cheaper than its segment counterparts. In addition, the used versions of the Mercedes-Benz R-Class and Hyundai Veracruz sit in the same situation being far more affordable than similar vehicles in their respective segments, with little additional drop in value expected as a result of being discontinued. Values will likely remain firm since these vehicles could present buying opportunities for consumers seeking a good deal in the full-size and luxury crossover categories.
Owners of the Lexus HS, Mazda CX-7 or Chevrolet Colorado or GMC Canyon likely will see little impact to their vehicle value, KBB predicts.
The CX-7 was only discontinued to make room for the smaller CX-5, and is expected to maintain a strong following with strong values long into the future.
"The Lexus HS never hit the volume targets Lexus needed to keep the vehicle in production; however, it will likely maintain a niche following for consumers seeking affordable green luxury," said Gutierrez. "The Chevy Colorado or GMC Canyon faithful have nothing to fear in terms of unexpected depreciation once production ends. With the Ford Ranger also ceasing production late last year, consumers seeking rugged, dependable, yet affordable small pickups will have fewer options keeping trade-in and resale values strong."
To read editorial comments about each of these vehicles and to learn what each automaker has planned in their absence, visit http://www.kbb.com/car-reviews-and-news/top-10/10-cars-waving-goodbye-2012/.