Honda's £1m used car advertising campaign is likely to have little impact on residuals according to Cap.
The campaign will run from late May until the end of July and will use the photographic talents of celebrity photographer David Bailey.
The first advert to be aired in public features a David Bailey photograph of an Accord 1.8 SE with the message: 'we value our Approved Used Hondas, so will you.' In addition to press advertising in national daily and Sunday papers, regional versions will be created for Honda dealers to use in local media.
But Mark Norman, Cap Network future data editorial manager, said the value of the cars will not increase. “The move is unlikely to have any great affect on longer term rvs because it is only a short term measure.
“Also, the dealers are still not actively stocking or promoting the older, higher mileage used cars out in the open market and it is the values here that dictate residuals, not the cosy trade in nearly new stock between the manufacturers and their dealers.
“Vauxhalls Network Q is probably the UK's best known used car programme and this has done little over the years to increase the values of used Vauxhalls in the open market.”
Chris Brown, Honda's advertising manager, said: “The advertising will feature a number of well known personalities promoting Honda Approved Used Cars, this will not only create interest and awareness but also underline the strength of our used cars in the marketplace.
"There will be a series of treatments – the first featuring Civic and Accord –that continue this theme and by the end of the campaign literally millions of potential customers will have seen our used cars presented in an unparalleled and innovative manner."