Fleet News

Marketwatch: Cold comfort for prestige SUV values

RESIDUAL values for prestige sport utility vehicles have dropped sharply over the last year, wiping thousands of pounds off the prices of nearly-new and used models.

An average one-year-old SUV is now worth 7% less than it was this time last year, a massive drop in value of £2,500.

According to EurotaxGlass’s, wider availability, growing competition in the segment and shortening waiting lists for most models are behind the falls.

However, fleets can minimise the effects of the drops by specifying diesel variants, which are holding up better than their petrol counterparts.

Richard Crosthwaite, prestige car editor at EurotaxGlass’s said: ‘Without exception, the vehicles that perform best in this segment are the diesel variants – and they will continue to do so.

‘Re-sale prospects are also aided by a good metallic colour – metallic black being the best – automatic transmission and satellite navigation systems.

‘The absence of sat-nav alone can take at least £2,000 off the trade price of a 12-month-old prestige SUV, with a similar sum deducted for a manual gearbox.’

EurotaxGlass’s expects to see rates of depreciation level out and points out that these vehicles still outperform most other prestige car segments.

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