The problem of pressure on the residual values of outgoing models has caused headaches for dealers, fleet and private car owners, according to the latest CAP Black Book, the trade's guide to used car values.
“This factor is increasing as manufacturers aim to reduce the old seven-year lifespan of a current model car to five years,” says a company spokesman.
The biggest RV slump during 2002 was among the people carriers. Petrol versions of the Ford Galaxy now stand at 85 per cent of last December's value, with the petrol Renault Espace suffering a similar downturn. Diesel variants fared better.