4×4 values reach record levels
BCA communications director Tony Gannon commented: ‘Nothing makes four-wheel drive more attractive than a dusting of snow around the UK and the severe weather we have had in recent weeks will have convinced many drivers that they now need a 4×4.’
Prices had been rising throughout the winter months, with records previously set in October (£12,186) and December (£12,271). Values have nearly doubled over the past 18 months.
Mr Gannon added: ‘The turnaround in the 4×4 market has been exceptional. Of all the car sectors affected by the economic downturn, few fell harder or faster than the 4×4/Sports Utility sector and few have recovered as well in the intervening months.
‘Values reached a low point in July 2008 when several months of high fuel costs, combined with the stuttering economy and uncertainty over proposed Vehicle Excise Duty and the so-called Showroom Tax saw values fall by over £2,000 to £6,723.
‘But as prices recovered in 2009, 4×4 values were among the first to bounce back. They were still exceptional value for money, of course, which undoubtedly attracted a lot of motorists. However, the heavy snowfalls of January 2010 seem instrumental in pushing values on to new record levels.’