4x4s set for price drop
March 30th, 2010 by Richard Aucock
VALUES of secondhand 4x4s and other large and thirsty cars are set to fall in the next 6 months as fuel prices rise.
Online retailer carsite.co.uk says fuel prices edging over 120p per litre will mirror a downturn seen in 2008.
This was when fuel prices last hit a peak – and ‘the additional financial burden placed on drivers by the fuel price spike could trigger another drop in buyer confidence for large petrol-powered cars, stripping as much as 10 percent of value from the least economical used models.’
Carsite sales director Alistair Jeff said ‘we could see a repeat of the knee-jerk reaction experienced in 2008 that saw dwindling values in the large family car market.
‘Whilst the proposed showroom tax will make buying large 4x4s even more expensive, those who have recently invested in a new gas guzzler could be about to suffer from increased depreciation with their vehicle.’
The 4x4s and large family cars of the current second hand marketplace, populated mainly by 3 to 6 year old cars, are those most likely to suffer against rising fuel prices, he added.
If you stock such vehicles, are you expecting price changes due to the cost of fuel?
Tags: 4x4, secondhand, used