When buying a Toyota, there’s nearly a one-in-five chance that it will last 250,000 miles, an industry best, according to data collected by iSeeCars.
Driving the news: Analyzing data from more than 395 million vehicles (excluding heavy-duty trucks), iSeeCars identified the top brands with the likelihood of vehicles hitting 250,000 miles.
The study looked at 33 brands, with the average chance of hitting the milestone at 5.4%.
Only five brands overshot that average.
“I was surprised at how few brands were above the average,” iSeeCars Executive Analyst Karl Brauer told CDG News. “I didn’t think there’d only be five out of 33 brands that would be above average.”
By the numbers: Toyota was the top performer by a wide gap, with its vehicles having a 19.7% chance of making it to 250,000 miles.
Toyota’s luxury brand, Lexus, was next at 14.4%.
Honda was the only other brand with a double-digit likelihood at 13.3%, and its Acura brand was fourth at 9.5%.
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GMC closes out top 5: The highest domestic brand was GMC at fifth.
Ford barely made the top 10 at ninth (4.1%), and Chevrolet was 11th at 3.6%
For luxury brands, the average of making 250,000 was 3.4%, with Lincoln and Cadillac joining Lexus and Acura above that mark.
“They say there are two things that kill a car… time and miles,” Brauer said. “Luxury cars tend to be driven less by their owners than non-luxury cars; that’s why they tend not to have as high a percentage chance of getting to 250,000.”
For dealers: Demand for aged inventory is on the up, given that the average used vehicle price tops $30,000 and new vehicles are more than $50,000 right now.
The good news, Brauer says, is that this study shows there are several vehicles capable of providing long-running value options for dealers looking to match consumer demand.
“[Dealers] should probably be more open to carrying older vehicles on their lots given where both the consumer is in terms of buying older vehicles because that’s all they can afford, and the quality of the vehicles that still have life left in them, making them viable products to sell,” Brauer said.
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