The pressures for 4x4s are well documented, the numbers of these vehicles reaching auction are not large but are relatively consistent for the volume and premium models from fleet and leasing sources which are sold on average at three years and around 45,000 miles.
According to BCA, while premium 4x4 values took a fairly substantial hit in August, falling by around £600 for the third month running, values for volume models fell by a more modest £162 (2.2%), remaining very much in line with the whole of the fleet and lease sector, which fell by just £74 (1.2%).
The relative CAP performances highlight that the market continues to down-value 4x4s relative to other sectors – 4x4s have underperformed the market average for fleet and lease stock since March (when the Budget announcement was made), with volume 4x4s continuing to perform the worst.
It’s also noticeable that the slide against CAP Clean appears to have halted, with volume 4x4 performance actually increasing.
Since January, fleet and lease volume 4x4 models have fallen from averaging around 98% to under 85% of CAP Clean, while premium 4x4s have fallen from a similar high point to just under 88% in August.
These falls have been much more accelerated and larger than has been seen for all fleet and lease stock, represented by the blue line.
Looking in detail at all premium 4x4 values compared to CAP, the general downward price pressure during 2008 can be seen – even taking into account the erratic results from the low-volume nearly-new sector.
BCA Pulse will continue to monitor these movements during 2008.