Fleet News

European residual values still 'on decline'

A new study has found that a 'gradual decline' of residual values for typical fleet models across Europe is continuing.

The latest EurotaxGlass's Fleet Index, which measures the values if about 40 benchmark models, shows that values have declined by 0.2% over the last 12 months, a figure unchanged from the last quarter.

It states that significant declines in Italy (-4.3%) and the United Kingdom (-6.3%) have influenced the overall European average.

'Most other countries are showing static or small increases,' the company said. 'The Benelux countries are showing the strongest performances with The Netherlands leading the way with an increase of 5.1%, followed by Belgium (+4.1%).'

It added: 'Values in France are also recovering albeit from a very low base, where values are among the lowest in Europe. In Germany, while there is stall a small upward trend (+0.7%) this is down on the last quarter. The recover in Portugal continues in a market where values are still 50% above the European average.'

The latest figures show that a decline last year in the premium for diesel models over petrol models has now reversed with diesel values increasing by 0.7% over the last 12 months.

It said this increase was led primarily by 'strong growth in the values of small car segment diesels, particularly Peugeot 206, VW Polo and Fiat Punto'.

Values in the lower medium segment are declining, it adds, particularly petrol models with Renault Megane and the old Toyota Corolla among the biggest fallers. The Audi A3 is the strongest performer, particularly the diesel version.

In the upper medium segment, EurotaxGlass's says, the Nissan Primera performed particularly badly in advance of the introduction of the new model.

'The star performer by far has been the Peugeot 406 diesel (+10.0%) with particularly good performance in France, UK and the Benelux countries,' the report said.

'The largest declines this quarter have been in the executive segment with only the Audi A6 increasing for both petrol and diesel models.'

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