So says MyCarCheck.com/Trade, the trade valuations arm of CDL Vehicle Information Services, which has reported that the usual summer downturn in values across the market has also been seen in the used car sector.  

Head of car valuations Alan Senior commented: ‘Have UK used car buyers fallen out of love with the convertible? It seems that increasingly us Brits are following the buying patterns of consumers on the continent. For many years the UK has been a sales hotspot for soft tops, whereas in hotter countries like Spain they have always preferred to shut the sun out, shunning convertibles in favour of something more practical and versatile. 

‘In this country the “cool convertible” image has ensured that, traditionally, demand has always outstripped supply. Residual values have therefore stayed relatively strong, especially for premium brands. 

‘However, a number of factors seem to be changing. The main reason is economic; convertibles are rarely the main household transport. As average disposable income has shrunk over the past five years, many people have cut down to one vehicle. A second reason is there is so much choice now from different manufacturers it is tipping the balance to oversupply. Thirdly, many businesses have removed convertibles from their contract/lease car choice lists in an attempt to cut costs. They have long been a popular option for employees looking for something different to the same old saloons and hatchbacks. 

‘The overall outcome is that, for now, convertible values will continue to be under pressure.’