Hilux vs D-Max vs Triton Depreciation in Malaysia
Quick answer
In this selected sample from Intercontinental Motors' in-house records, the 2024 Toyota Hilux Rogue 2.8 recorded the lowest observed raw depreciation at 18.8%, retaining 81.2% of its reference Malaysian new-car price. Its observed in-house wholesale price was RM119,300 against a reference new price of RM146,880.
It was not the lowest-mileage vehicle in the comparison; that was the 2024 Isuzu D-Max X-Terrain 3.0. Condition and history were not available, so the result remains descriptive rather than conclusive.
Why this comparison matters
Pick-up trucks serve as work vehicles, lifestyle vehicles or both. Strong utility can support used demand, but off-road use, towing, payload history, modifications and underbody condition can create major differences between apparently similar trucks.
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 Toyota Hilux Rogue 2.8 | 30,728 km (15,364/yr) | RM119,300 | RM146,880 | 81.2% | RM27,580 (18.8%) | RM13,790 |
| 2024 Isuzu D-Max X-Terrain 3.0 | 26,071 km (13,036/yr) | RM81,600 | RM141,938 | 57.5% | RM60,338 (42.5%) | RM30,169 |
| 2022 Mitsubishi Triton Athlete | 63,652 km (15,913/yr) | RM73,200 | RM127,900 | 57.2% | RM54,700 (42.8%) | RM13,675 |
What the sample shows
From lowest to highest raw depreciation, the selected observations rank as: Toyota Hilux Rogue 2.8 (18.8% loss), Isuzu D-Max X-Terrain 3.0 (42.5% loss), Mitsubishi Triton Athlete (42.8% loss).
The gap between the lowest and highest raw depreciation was 24.0 percentage points. The lowest simple annual ringgit loss was Mitsubishi Triton Athlete at RM13,675 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 26,071 km to 63,652 km. The lowest-mileage observation was the 2024 Isuzu D-Max X-Terrain 3.0, while the highest-mileage observation was the 2022 Mitsubishi Triton Athlete.
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
Truck buyers inspect chassis condition, four-wheel-drive operation, cooling, suspension and signs of heavy loading. Expensive modifications do not always increase resale value and can narrow the buyer pool.
Advice for used-car buyers
- Inspect the chassis, underbody, bed and towing points for heavy-use damage.
- Test four-wheel-drive modes, differential systems and transmission operation.
- Check cooling, suspension, steering and tyre condition.
- Review whether aftermarket wheels, suspension or accessories are legal and properly installed.
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
- Clean the underbody and document work or lifestyle use honestly.
- Keep original parts and receipts for reputable modifications.
- Repair four-wheel-drive warning lights and obvious mechanical issues.
- Market the truck with clear payload, towing and ownership-history information.
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, request a direct-sale or trade-in assessment, or discuss managed consignment.
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 pick-up retained more value in this sample?
The selected 2024 Toyota Hilux Rogue recorded the lowest raw depreciation percentage and retained 81.2% of its reference new price.
Was the Hilux the lowest-mileage truck?
No. The Isuzu D-Max X-Terrain had slightly lower mileage. This makes the Hilux result notable, but condition and history remain unknown.
Why can a modified truck be harder to sell?
Modifications may raise concerns about off-road use, legality, warranty, ride quality and reliability. Buyers may not value upgrades at their original cost.
What documents help when selling a pick-up?
Service records, modification receipts, ownership documents, loan-settlement information and evidence of careful use can improve buyer confidence.
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 Toyota Hilux Rogue 2.8: reference price RM146,880. 2020 Toyota Hilux facelift launched in Malaysia. Price basis: Rogue launch/list price.
- 2024 Isuzu D-Max X-Terrain 3.0: reference price RM141,938. 2021 Isuzu D-Max launched in Malaysia. Price basis: X-Terrain launch/list price.
- 2022 Mitsubishi Triton Athlete: reference price RM127,900. Mitsubishi Triton Athlete launched in Malaysia. Price basis: Athlete launch price.