Going 'green' could lose fleets thousands in RVs
17/07/1998 in NEWS
However, CAP chief economist Mark Cowling said the figures were not 'all gloomy' and claimed a significant increase in the number of gas pumps at fuel stations across the UK could see residual value forecasts revised. Presently there are 120 liquefied petroleum gas refuelling pumps in the UK and less than 20 compressed natural gas refuelling sites.
The July issue of CAP Motor Research 'Monitor Future Residual Values' predicts residual values for liquefied petroleum gas versions of Vauxhall Vectra and Omega models and LPG versions of Volvo's S70. Over three years/60,000 miles residuals on the Vauxhall gas cars are typically five percentage points or £300- £400 below those of their petrol-engined equivalents, but they have an on-the-road price of around £2,000 more. Values on the Volvo models are similarly predicted to be lower at around four percentage points down.
Calculated in terms of 'pounds lost' and on a Vauxhall Vectra 2.0 LS fleets would lose £10,320 on a petrol-engined saloon, but £12,545 on the equivalent bi-fuel vehicle.