Best-selling large 7-seat 4X4 SUVs and depreciation

How much will your prospective new 4WD wagon slide in its resale value in the next five years? Let’s look at the recent history of the big sellers to better inform you about your next off-roader’s future value…

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The large seven-seat SUV market is one of the fiercest and one of the most popular single segments in Australia.

But there are two sub-sections of this market pie: those with 4WD capability, and those without. In this report we’re going to focus primarily on the 4WD capable choices, with just a couple of exceptions. Let’s dive in…

According to VFACTS figures, there were a whopping 22 different models available throughout 2023, with total segment sales hitting 126,720 units for the year. From expensive and premium-approaching, to cheap and nasty, there is no shortage of variety here.

Let’s hand-pick four of the best-selling models and then compare them to four of the cheaper alternatives, investigating how their resale values look after five years of ownership. We’ll use the flagship variants of each to compare and to retain maximum consistency.

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Specifically, we’ll look at the Toyota Prado, Ford Everest, Isuzu MU-X, and Mitsubishi Pajero Sport from the top tier, and then the LDV D90, SsangYong Rexton, Skoda Kodiaq, and Nissan Pathfinder from the lower tier. Now let’s be clear here - the Pathfinder is not in the same league as the others because it is not a 4X4 with a low-range transmission; it’s a lardy arsed SUV, but it does present an opportunity to compare it to the proper off-roaders for sake of curiosity.

To get started here are the new registration figures (sales) for these models during all of 2023 in Australia. These are not in order in terms of the best-selling models outright because the Subaru Outback is not available with seven seats, and we’ll skip the Toyota Kluger since we’re already covering the Prado.

Top tier sales:

Toyota Prado: 20,710

Ford Everest: 15,071

Isuzu MU-X: 14,139

Mitsubishi Pajero Sport: 5547

Toyota Prado Kakadu

It’s been a favourite among Australians for decades, offering good all-round capability, practicality, and long-term reliability. In 2018 the top model was called the Kakadu, just like the current model. Like the Fortuner, the Prado is based on a ladder-frame platform incorporating a live-axle rear end.

Prices started from $84,490 for the 2018 Kakadu, when new, and now the resale guide is between $55,100 and $60,400, leaving an average of $57,750. That means it has lost $26,740 over five years, which equates to 31.64 per cent.

Ford Everest Titanium

Based on the same platform that underpins the Ford Ranger, only with coil springs at the back for a more comfortable ride and slightly better dynamics, the Everest offers great off-road capability and a decent in-car package.

In 2018, the top model was the Titanium 4x4 with the old 3.2-litre turbo-diesel five-cylinder engine. Prices, back then, started from $74,701. Now, the resale guide is between $38,850 and $42,800, for an average of $40,825. That means it has lost $33,876 in five years, or 45.34 per cent of its original value.

Isuzu MU-X LS-T

Isuzu has always been known for its dependable ruggedness and simple, user-friendly cabin. It only offers two models, the D-Max and MU-X, and they both ride on the same platform and feature the same powertrain and running gear. It’s a very simple formula.

The main difference is the wagon-bodied MU-X uses coil springs at the back (instead of leaf) for added comfort.

The top model now and in 2018 is and was the LS-T. Isuzu has been offering both rear-wheel drive and part-time 4x4 options. For this we’ll use the 4x4. Back in 2018 prices started from $56,200. Now, the resale guide is between $36,250 and $40,050 for a used example, for an average of $38,150. That’s a loss of $18,050, or 32.11 per cent.

Mitsubishi Pajero Sport GLS

The Pajero Sport is Mitsubishi’s answer to the vehicles above, and is based on the Triton ute only with coil springs at the back.

Out of these four, Pajero Sport is one of the best off-road packages, with the top spec version featuring diff locks and a proper centre differential so it can be driven in regular conditions with four-wheel drive engaged.

Today’s flagship is the GSR, priced from $62,440, but rewind back to 2018 and it was the GLS. Prices started from $49,000 for the MY18. Now, the resale guide is between $30,000 and $33,250, for an average of $31,625. That’s a decline of $17,375, or 35.45 per cent.

5-year depreciation

Depreciation stats:

-$26,740 -31%

-$33,876 -45%

-$18,050 -32%

-$17,375 -35%

Toyota Prado Kakadu 4x4

Ford Everest Titanium 4x4

Isuzu MU-X LS-T 4x4

Mitsubishi Pajero Sport GLS 4x4

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4WD wagon resale continued…

There are some newcomers here that are more popular, such as the GWM Tank 300. But such models were not on sale in 2018 so we can’t use them to compare.

Lower tier sales:

LDV D90: 3341

SsangYong Rexton: 1844

Skoda Kodiaq: 1555

Nissan Pathfinder: 1401

LDV D90 Luxe

The Chinese-made D90 has been offered in both rear- and four-wheel drive configurations, and in 2018, it was offered in just two trim levels; the Deluxe and Luxe. The Luxe is the flagship, equipped with a 2.0-litre turbo-diesel four-cylinder developing 165kW and 350Nm.

In 2018, prices started from $55,990 for the top Luxe version. Today, the resale guide is between $26,200 and $29,200, resulting in an average of $27,700. That equates to a loss of $28,290 after five years, or 50.52 per cent.

Quality issues have emerged with LDV in recent years, regarding vehicles which should absolutely be able to handle the conditions they’re marketed towards.

SsangYong Rexton Ultimate

This Korean brand has been building commercial vehicles for quite a while, but it hasn’t been able to fully capture the attention of our market. Likely because its products haven't been able to meet the expectations of their respective segment, and SsangYong’s ambivalence to sticking around.

In 2018, the top variant was the Ultimate, priced from $52,990. It featured a modest 2.2-litre turbo-diesel producing 133kW and 420Nm, connected to a seven-speed auto. Today, the resale guide is between $21,750 and $24,350, for an average of $23,050. That means it has depreciated $29,940 in five years, which is 56.5 per cent of its initial value.

Skoda Kodiaq 140TDI

The Kodiaq is Skoda’s seven-seat SUV option, based on VW Group’s MQB platform like the Tiguan, Mk7 Golf, and Arteon. Diesel and petrol options were offered in 2018, with the 140TDI Sportline sitting atop the range. It’s AWD, too, not 4X4.

Prices started from $56,790 when new in 2018, and now the resale guide is between $24,650 and $27,500, resulting in an average of $26,075. That’s a loss of $30,715, or 54 per cent.

Sales struggled in the late part of the 2010s, not helped by the whole Dieselgate thing; expensive parts and ongoing VW customer care deficiencies continue to hamperSkoda’s ability to con more people into buying their cut-price Tiguan.

Nissan Pathfinder Ti

Nissan’s previous-gen Pathfinder was subject to a major class-action lawsuit in America, with customers complaining about its CVT auto transmission. In Australia, the problems haven’t been as widely reported.

Being more of a crossover than a rugged SUV, the previous generation was reasonably popular among big families. But it was not helped by Nissan’s tainted image as the former CEO made headlines for all the wrong reasons.

Many people found themselves staring out to sea as a result of owning the R52 Pathfinder

In 2018 the top Ti was priced from $66,390. Resale values span between $30,400 and $33,650 these days, for an average value of $32,025. That means it has lost $34,365 in five years (based on MY19 – no MY18 is listed). That’s a depreciation factor of 51.7 per cent.

R51 Pathy has a cult following in the 4X4 community

What makes the case for Pathfinder even worse is that it’s only an SUV - it does not have a low-range 4X4 transmission make it a proper off-roader. So not only does its value just nosedive, in the ownership period you can’t even use it in the same manner as all the other vehicles here and it costs just as much as some of these other 4X4 7-seaters.

Nissan’s cost-cutting extreme sport was evident with Pathfinder because they didn’t do the R&D needed to make its CVT robust, and nor did they afford it the investment to make it what could’ve been a proper off-roader like the R51 used to be. It was no longer the ‘finder of a path’ through the bush so much as it was desperately trying to find the safety of a sealed road.

5-year depreciation

Depreciation stats:

-$28,290 -50%

-$29,940 -56%

-$30,715 -54%

-$34,365 -51%

LDV D90 Luxe 4x4

SsangYong Rexton Ultimate 4x4

Skoda Kodiaq 140TDI (AWD)

Nissan Pathfinder Ti (AWD)

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