Fleet News

MG Rover comeback

FLEETS concerned that they are going to take a massive hit on defleeted MGs and Rovers have received a welcome fillip after analysis showed used buyers are becoming interested in the brands again, strengthening prices as a result.

Prices fell dramatically last year following the collapse of the firm, with residual values falling by nearly 20% between January and September 2005.

However towards the end of 2005 prices started to rise, led principally by the Rover 75, and they continue to improve, according to auction giant Manheim and CAP Motor Research.

One-to-three-year-old Rover 75s, averaging 25,000 miles on the clock, went from an average of £8,395 in the third quarter of 20005 to £8,625 in the first quarter of 2006.

Rob Barr, Manheim’s group communications director said: ‘The MG Rover brand took a big confidence hit initially but prices have started to strengthen.’

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