Fleet News

Marketwatch: ups and downs of 2004 RV market

GLASS’s has produced a guide to the top 10 trends in the used markets over the past year.

Glass’s Guide managing editor Adrian Rushmore said: ‘As we consign the used car market in 2004 to the history books, it’s worth highlighting the key points that touched the working lives of everybody responsible for managing the financial risk of used cars.’

These were:

  • Diesel residuals more than held their own in comparison to petrol. The bigger the diesel car, the greater the residual value gains.
  • There was an accelerated fall in residual values for all ages of used cars.
  • Compact MPV residuals suffered the biggest decline of any sector.
  • Rising interest rates have restrained retail demand for new and used cars.
  • Fading buyer sentiment for the old single-plate system was reflected by lower prices.
  • The adverse effect on residual values created by the increase in registrations in recent years was masked by a downturn in retail activity following a succession of interest rate rises.
  • We have seen a continued preference for the trade to source ‘ready to retail’ stock.
  • Satellite navigation has become the latest must-have option on executive and luxury cars.
  • Franchised dealers have been overburdened with nearly new cars.
  • Increased discounts are available on new premium-brand cars.
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