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Land Rover demand buoys prices
Thursday December 23rd 2010
The extreme winter weather that has been causing disruption on the roads, preventing some people from getting to work and keeping shoppers away from the high street, has also seen its winners - most notably off-road car manufacturer Land Rover.
Its vehicles - a common site in rural areas where farmers need to access hard to reach places in all conditions - have been growing in popularity.
As a result, the 4x4 range it offers is among the best in the UK for holding value, with strong demand for second-hand vehicles supporting resale prices, according to an industry report from Glass's.
Despite a consumer shift away from full-size off-road capable vehicles, as people try to cut emissions and fuel costs during the economic downturn, two harsh winters and tough driving conditions have seen 4x4 sales outperform the market.
As a result, the four-wheel drive specialist Land Rover has seen three of its models placed in the top 10 for retained value over the first three years of ownership.
A three-year-old (57 plate) Freelander 2 GS TD4 Auto took in fourth position in Glass's survey, a Discovery 3 2.7 TDV6 came was awarded sixth place and the Range Rover Sport 2.7 TDV6 finished ninth.
For anyone splashing out on a new Land Rover to see them through the winter, car value protection cover is available to make sure they don't lose out in the event it is written off or stolen. The policies pay the difference between a car insurer's valuation of the vehicle at the time of the claim and the true value of the car when the cover was taken out.
Adrian Rushmore of Glass's said: "The British love affair with the 4x4 has meant residual values of several models have remained high.
"In Glass's list of the top 10 best performing three-year old models in terms of residual value, Land Rover claimed three spots. Besides the aspirational appeal of the Land Rover brand, consumers have remembered how well their Land Rovers performed in the extreme winter weather last year and this has also impacted positively on their residual value."
Colin Green, Land Rover managing director, said: "Land Rover vehicles offer stylish design, ground-breaking technology, and unrivalled all-terrain capabilities making them the ideal vehicles for all weather conditions.
"Our approved used vehicles have been thoroughly checked by specialist technicians and come covered by Land Rover's comprehensive warranty. Now with excellent residual values and finance offers available across the range, ownership has never been so appealing."
Copyright © Press Association 2010
If your car gets written off, helpucover will pay the difference between your car insurers valuation at the time of the accident or theft, and the car's value when you purchased Gap Car Insurance.