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Originally Posted by Isaac Zachary
in other countries things are different
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Sometimes it's much different. I remember when I started to see a lot of small tricycles (converted from Honda CG motorcycles) being used by commercial operators around 12 to 14 years ago in my hometown. But when it comes to private cars, nowadays even in a budget-oriented market such as Brazil I see fewer people willing to compromise comfort features such as air conditioning.
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In Mexico, for an example, a 5 year old car will still be 90% the value it was when it was new (or so my little amount of investigation has lead me to believe). It seems to be because fewer people buy new cars there leading to fewer used cars.
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It's quite like that in my country too, even though luxury cars often have a much higher depreciation within a 5-year timeframe than mainstream models.