Fleet News

Glass's lifts older car RVs by 2.5%

GLASS'S Information Services is lifting values for 18-month to four- year-old cars by up to 2.5%, adding further weight to the argument that plunging residual values have bottomed out. In the January issue of its used car price guide Glass's describes the market as 'improving'. This comes just a month after both CAP Black Book and Glass's Guide Car Values predicted improvements in the used car values.

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).

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