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Used values for convertibles are expected to rise over the next couple of months as buyers generate forecourt demand in the weeks leading up to summer.
According to Glass’s convertibles typically retain more of their original value than other segments. Mainstream models, such as the Peugeot 207 CC or Mazda MX-5, and premium models, including the BMW 3-Series or Audi A4, hold onto an average of 42 percent and 45 percent respectively after three years.
In January 2010, the average auction price for a mainstream model was £6,900, but by April 2010, the average price had increased to £8,000, representing a 16 percent rise for the quarter.
The effect was even greater in the premium convertible market, where the average auction price of £12,650 in January 2010 rose to £15,525 by April 2010, representing an increase of 23 percent over the three months.
“Some buyers have already begun to visit dealer forecourts and will benefit from lower prices just before the seasonal uplift becomes apparent. From March we would expect to see the higher trade prices being reflected into higher forecourt prices as dealers attempt to protect, or increase, their trading margins,” said Adrian Rushmore, managing editor of Glass’s.
Rushmore added that dealers should bear in mind that trade prices will slow and steadily decline after April.
“The single biggest monthly drop is most likely to take place between August and September, which will amount to around 10 per cent. Dealers should be mindful of this when trying to shift the remainder of stock later in the year.”