Hilux vs D-Max vs Triton Depreciation in Malaysia
Published / last reviewed: 18 July 2026
Prepared by the Intercontinental Motors Market Insights Team. Vehicle-specific figures should be reviewed by the Intercontinental Motors valuation team before publication.
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
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.