Chinese automaker LDV Automotive has said there is a growing shift in Australians buying brand-new Chinese-built utes rather than more expensive second-hand utes such as the Toyota Hilux.
Oliver Peagam, the public relations manager for local distributor Ateco Group, told Chasing Cars that tradies and commercial workers are leaning more towards brand-new Chinese utes such as the T60 Max that offer more power than its competitors.
“We know there is a growing shift from second-hand, still expensive Hiluxes as a first vehicle for tradies to a brand-new LDV T60”.
The updated LDV T60 has a 160kW twin-turbo diesel engine
Mr Peagam also noted that for tradies to get a 160kW dual-cab ute, there is an additional premium of around $18,000 for an equivalent vehicle.
“We know power is an important factor for ute buyers. Usually, tradies have to step up into significantly more expensive [Volkswagen] Amaroks and [Ford] Rangers to get that power, but not anymore.
“To get near our price points, you will be dropping nearly 40kW of power,” he said.
The LDV T60 Max starts from $41,000 before on-road costs
The comment is a likely reference to the T60 Max’s chief rival, the GWM Ute, which starts at $35,990 driveaway in base model, 4X2 guise and produces 120kW/400Nm.
The Mitsubishi Triton GLX dual cab 4×2 ute, meanwhile, starts at $40,440 before on-road costs but produces 133kW/430Nm.
In comparison, the LDV T60 Max starts at $41,042 before on-road costs and packs Hilux-beating outputs of 160kW/500Nm with standard 4WD – but how does LDV’s argument stack up against the used market?
Second-hand Toyota Hiluxes are holding their values, but tradies are looking at LDV
Comparing the updated LDV T60 ute’s performance and pricing to the second hand market
Since the beginning of the coronavirus pandemic, second-hand car values have seen significant increases, with used major players like the Toyota Hilux ute and Toyota Land Cruiser 4WD sometimes fetching higher prices than their brand-new counterparts.
As delays for new vehicles lengthened due to global parts shortages, demand for second-cars increased, along with consumers spending their money locally rather than overseas.
Four year old Hiluxes are the same price as a new LDV T60
At the time of writing in November 2022, a second-hand 2018 Toyota Hilux SR5 manual dual-cab sits between $42,000-$51,000, depending on the specification, kilometres travelled and condition. This Hilux is down on power when compared to the LDV T60, making 130kW/420Nm.
A 2018 Ford Ranger Wildtrak in manual guise has a very similar price guide to the second-hand Toyota Hilux, sitting between $41,000 and $51,000. This Ranger produces 147kW/470Nm from its outgoing 3.2-litre five-cylinder turbo-diesel engine.
To compare, the 2023 LDV T60 Luxe automatic is set to cost $47,884 before on-road costs, so LDVs claims do indeed stack up. Keen buyers can essentially pick up a new LDV T60 ute for the same price as a four-year old ute from the big players: Ford and Toyota.
LDV competes with GWM in the cheaper ute segment
So why are people choosing Chinese utes over expensive, more popular options?
Cheaper Chinese utes such as those made by GWM or LDV are becoming very enticing to new-car buyers for a few key reasons.
As we have found above, pricing is a big factor. If you can buy a new ute for the same price as one that is four years old and has plenty more kilometres on the clock, you may have a winner.
The addition of a long factory warranty also helps, with both GWM and LDV offering a seven-year warranty on their utes – besting the industry-standard five-year warranty offering on the Ford Ranger, Toyota Hilux, Mazda BT-50 and more.
