• Car Dealer Plus
No Result
View All Result
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
No Result
View All Result

Luxury car losses record

Car Dealer Magazine by Car Dealer Magazine
December 19, 2008
0
Home News

Luxury car losses hit record levelsDEPRECIATION of luxury and sports cars has hit record levels, with first-year losses of some models up by over a fifth.

HPI reports that cars such as the Bentley Continental GT are losing £500 more than they were last year – every week.

In its first year alone, a Continental GT will lose £67,000. This is 56 per cent of its original list price.

It’s also a massive increase on the first year loss of £41,000 in 2007.

‘The used car market offers a reflection of the state of the economy,’ says HPI’s Martin Keighley. ‘When the good times roll, the luxury models get snapped up. However, in lean times, prestige models flood the market and values begin to plummet.

‘Over recent years, many luxury and sports cars have been bought on the back of the flourishing economy, by those with huge city bonuses or Premiership wages. However, now we are seeing large numbers of these 1-3 year old vehicles struggling to find buyers.

‘With consumers lacking confidence, or simply unable to get the finance deals, these boom models are around in much higher numbers, thus values are taking a huge hit.’

HPI has put together a list of the biggest ‘boom to bust’ swingers:

•    Bentley Continental GT Coupe
•    Porsche Boxster, 911, Cayenne
•    Audi A4 Cabriolet, A8, TT, A6, Q7
•    Saab Convertibles
•    BMW Z4, X5, X3, M3, 5 Series, 7 Series
•    Volvo V70, XC90
•    Mercedes ML, SL, CLK, SLK
•    VW Touareg
•    Aston Martins
•    Lamborghinis
•    Ferraris

Keighley also offered advice on how the market will move ahead. ‘More affluent consumers will change they way they shop. Luxury models such as Ferrari and Porsche used to have bulletproof residuals, but with consumer confidence at an all time low, they will not seem so attractive.

‘Buyers are going to be looking at how well a vehicle holds its value before splashing out, which doesn’t bode well for high end models.’

£50k entry-level Bentley

Greatest Drives: Bentley Continental GT

4.11.08: Boy dreams Bentley…

Previous Post

Sales success for Fiesta

Next Post

Buyer wins £20k Renault

Related Posts

John Clark Motor Group sees losses deepen to nearly £2m
News

John Clark Motor Group enjoys profit rise to £12.8m despite lower turnover

January 13, 2021
Consumers confused by car finance terms, according to new research
News

Car repossessions allowed to recommence on January 31, despite FCA extending help for mortgages

January 13, 2021
Scottish government looks to phase out new petrol and diesel cars from 2032
News

Click-and-collect to be banned in Scotland from Saturday for car dealers but hope deliveries will still be allowed

January 13, 2021
Dealers to be given free advertising across eBay Motors Group in February
News

Dealers to be given free advertising across eBay Motors Group in February

January 13, 2021
New car sales to increase in 2013, suggests Trader Media
News

Renault Retail Group sells flagship London West showroom for £39m

January 13, 2021
BMW ad banned because ‘no-dazzle’ claim was misleading
News

Five people arrested after BMW dealership targeted twice by thieves in the same morning

January 13, 2021

Want to receive the latest news?

Sign up to the Car Dealer daily news briefing for the latest news and advice during these unprecedented times.

Subscribe Now
Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK
Car Dealer Top 100

Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK

December 21, 2020
Used Car Awards Shortlist: Find out who made it through mystery shopping and are now in running for our gongs
News

Used Car Awards Shortlist: Find out who made it through mystery shopping and are now in running for our gongs

January 6, 2021
Investigation: Should car dealers be selling and delivering during lockdown?
News

What do we know about online used car dealer Cazoo? Who is Alex Chesterman? And will Cazoo float on the stock market?

January 5, 2021
Become a Car Dealer Plus member and get more out of this website including free legal advice
News

Become a Car Dealer Plus member and get more out of this website including free legal advice

January 5, 2021
Used car dealer Cazoo accused of online-only U-turn as it sets up physical sites and closes Imperial dealerships
News

Comment: Why Cazoo founder was naive to label this used car sales business as ‘flawed at every level’

December 1, 2020
Car Dealer Power

Car Manufacturer of the Year – Where did your manufacturer rank in Car Dealer Power 2020?

November 23, 2020
Investigation: What do car buyers want from online car sales? New research reveals customers’ likes and dislikes
Car Dealer Live

Investigation: What do car buyers want from online car sales? New research reveals customers’ likes and dislikes

November 28, 2020
Car Dealer Power

The best car dealer suppliers named in the Car Dealer Power Awards 2020

November 26, 2020
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
Call us: 020 8125 3880

© 2020 Blackball Media

No Result
View All Result
  • Car Dealer Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100

© 2020 Blackball Media

Log In
Register
Register
Server C