Alza vs Xpander vs Serena Depreciation in Malaysia
Quick answer
In this selected sample from Intercontinental Motors' in-house records, the 2024 Perodua Alza AV recorded the lowest observed raw depreciation at 24.0%, retaining 76.0% of its reference Malaysian new-car price. Its observed in-house wholesale price was RM57,400 against a reference new price of RM75,500.
It was also the lowest-mileage vehicle in this comparison, so part of the apparent advantage may be related to mileage. The ranking is not mileage-adjusted.
Why this comparison matters
MPVs are bought for practical reasons: seven-seat capacity, family comfort and easy access. Their value depends heavily on interior condition, air-conditioning, seat mechanisms and the cost of maintaining larger or more complex vehicles.
The figures below use observed in-house wholesale prices rather than retail asking prices. Wholesale values usually allow for inspection uncertainty, preparation cost, warranty exposure, financing support, stock-holding time and dealer margin. They should not be presented as guaranteed retail market values.
Depreciation comparison
| Vehicle | Mileage (approx. per year) | In-house wholesale price | Reference new price | Value retained | Actual depreciation | Simple loss per year |
|---|---|---|---|---|---|---|
| 2024 Perodua Alza AV | 22,199 km (11,100/yr) | RM57,400 | RM75,500 | 76.0% | RM18,100 (24.0%) | RM9,050 |
| 2023 Mitsubishi Xpander | 58,518 km (19,506/yr) | RM54,300 | RM91,369 | 59.4% | RM37,069 (40.6%) | RM12,356 |
| 2023 Nissan Serena S-Hybrid Premium | 69,866 km (23,289/yr) | RM86,100 | RM162,888 | 52.9% | RM76,788 (47.1%) | RM25,596 |
What the sample shows
From lowest to highest raw depreciation, the selected observations rank as: Perodua Alza AV (24.0% loss), Mitsubishi Xpander (40.6% loss), Nissan Serena S-Hybrid Premium (47.1% loss).
The gap between the lowest and highest raw depreciation was 23.2 percentage points. The lowest simple annual ringgit loss was Perodua Alza AV at RM9,050 per model year. Percentage loss, actual ringgit loss and annualised loss measure different things, so they should be read together.
How mileage changes the interpretation
The selected vehicles range from 22,199 km to 69,866 km. The lowest-mileage observation was the 2024 Perodua Alza AV, while the highest-mileage observation was the 2023 Nissan Serena S-Hybrid Premium.
Mileage is displayed and converted into an approximate kilometres-per-model-year figure, but no arbitrary RM-per-kilometre adjustment is applied. A proper mileage-adjusted valuation would also need exact registration dates, condition grades, service history, accident and flood history, ownership type, location and multiple comparable transactions.
What usually affects value in this segment
Family-MPV buyers inspect the second and third rows closely. Stained upholstery, damaged power doors, weak rear air-conditioning and worn seat mechanisms can reduce confidence even when the mileage appears reasonable.
Advice for used-car buyers
- Test every seat mechanism, air-conditioning zone and sliding or powered door.
- Inspect interior trim, headlining, carpets and signs of child or commercial use.
- Check suspension, tyres and braking because MPVs often carry heavier loads.
- Confirm the exact seating and safety specification.
Before booking, compare like with like: same year, exact variant, local or recon status, mileage band, ownership history and realistic condition. An unsold online advertisement is not proof of the final transaction value.
Advice for owners planning to sell
- Deep-clean all three rows and the luggage area.
- Demonstrate that power doors, seats and rear air-conditioning work.
- Provide service records and disclose family, fleet or commercial-use history.
- Use photographs that show the full interior rather than only exterior angles.
Owners who need a faster exit may prefer a direct sale or trade-in. Owners with a presentable car, complete documents and more time may consider managed car consignment, where Intercontinental Motors can assist with presentation, enquiries, viewings, financing coordination, PUSPAKOM, ownership transfer and handover steps.
Buy, sell or consign with Intercontinental Motors
Browse available used cars, explore more used-car buying guides, or submit your car for a selling assessment.
Intercontinental Motors is located at Lot 27668, Jalan Nuri 7, Off Persiaran Surian, Kota Damansara, Petaling Jaya. View the location and Klang Valley service areas.
Frequently asked questions
Which MPV retained more value in this selected sample?
The selected 2024 Perodua Alza AV recorded the lowest raw depreciation percentage. It was also the lowest-mileage observation.
Why does the Serena show a larger ringgit loss?
It had a much higher reference new price and more complex equipment. Ringgit loss naturally increases when the starting price is higher.
Is mileage the most important factor for an MPV?
No. Interior condition, air-conditioning, door and seat operation, service history and accident repairs can be equally important.
Is consignment suitable for a family MPV?
It can be suitable when the MPV is clean, well-documented and available for viewings, and the owner can accept a market-dependent selling timeline.
Methodology and price sources
This article uses 3 selected vehicle observations from an internal dataset containing 850 raw in-house records and 820 unique observations after exact deduplication. Depreciation is calculated as reference new price minus observed in-house wholesale price. Simple loss per year divides that amount by model-year age using 2026 as the analysis year.
- 2024 Perodua Alza AV: reference price RM75,500. 2022 Perodua Alza launched in Malaysia. Price basis: AV launch price.
- 2023 Mitsubishi Xpander: reference price RM91,369. Mitsubishi Xpander price confirmed – CKD, RM91,369. Price basis: 2020 CKD price confirmation with SST exemption.
- 2023 Nissan Serena S-Hybrid Premium: reference price RM162,888. 2022 Nissan Serena S-Hybrid facelift launched. Price basis: Highway Star Premium launch price.