Fuel prices’ no effect
May 5th, 2010 by Richard Aucock
PREMIUM car values are continuing to thrive despite fuel prices hitting a record high across the country.
Glass’s reports values seem unaffected by posh luxury cars, supercars and SUVs being some of the least fuel efficient cars around.
What’s causing this odd trend? The ending of the feel-bad factor, combined with the slow rise of fuel prices that means many motorists have not noticed it.
Glass’s says large 4x4s have recorded price rises TWICE that of regular family cars in recent months. Luxury cars and supercars are matching the 2 percent rise of eco family hatchbacks.
This, says Glass’s managing editor Adrian Rushmore, is ’surprising.
’The sector that could be described as the most fuel inefficient appears to be thriving – namely, the prestige 4×4 sector that has recorded price resilience not seen in any other area of the market.
It’s probably because such models are not a family’s principal model of transport, he explains. Such second or third cars are shielded from the impact of high petrol prices.
Which is why Rushmore predicts that ’even though we expect used car buyers to choose more fuel-efficient cars in future, we are not predicting the demise of the large 4×4, luxury, and supercar sectors.’