But Glass's says things remain tough for the nearly-new market and is warning of falling residual values for S-plate and R-plate vehicles with the new T-plate registration in March. It warns: 'Dealers with R-plate ex-rentals in stock should be aware that S-plates are expected to arrive in the market earlier than R-plate did last year. This will create a further downward pressure on the latter, as the former finds a price level that is competitive against the new T-registration.'
Already it can be seen trade values for one-year-old cars at 10,000 miles compared to January of last year are well down. The Ford Mondeo 1.8LX 5dr is among the worst hit with a fall of 18.9% from £10,450 in January 1998 for a 97 P-plate to £8,475 in January 1999 for a 98 R-plate - a fall in value of £1,975. Other examples include the Renault Laguna 1.8RT 5dr down to £8,750 (98R) from £9,600 (97P), Vauxhall Astra 1.4LS 5dr (old model) down to £6,875 (98R) from £7,675 (97P) and Ford Escort 1.4LX 5dr down to £7,050 (98R) from £7,800 (97P).