European car residual values dropped by up to 7.2 percent in the last year, according to the latest Eurotax-Glass’s Guide European Used Car Residual Price Index published by eurocarprice.com.
The index, which tracks used car prices across Europe, saw values fall by an average of 2.3 percent in 2000.
In Belgium, values dropped an average of 7.2 percent but Dutch and Spanish cars increased by 1.9 percent.
The index shows that the UK has the highest residual values, due mainly to the strength of the pound, followed closely by Portugal. Belgium has the lowest residual values in Europe.
EurotaxGlass’s also tracks individual models’ used values across Europe and these vary widely.
For example, the Fiat Punto and Renault Megane fell by 9.2 percent and 7.8 percent respectively in 2000 but the Fiat Brava appreciated by 4.8 percent.
Large sports utility vehicles (SUVs) fell by 6.2 percent while sports coupe values dropped 4.2 percent. The mini and executive segments experienced falls by 5.0 percent and 4.4 percent respectively.
Table1: Average European Residual Value Trends by country over past 12 months
|Austria||+1.6 percent||Netherlands||+1.9 percent|
|Belgium||-7.2 percent||Portugal||-7.0 percent|
|France||-1.0 percent||Spain||+1.9 percent|
|Germany||-2.1 percent||Great Britain||-6.5 percent|
|Italy||+0.6 percent||Switzerland||+1.6 percent|
Table 2: Average European Residual Value Changes by model over past 12 months
|Fiat Punto||-9.2 percent||Audi A4||-5.2 percent|
|Ford Fiesta||-3.0 percent||BMW 3 Series||-3.5 percent|
|Nissan Micra||-7.7 percent||Ford Mondeo||-3.2 percent|
|Renault Clio||-1.9 percent||Opel Vectra||-2.8 percent|
|VW Polo||-1.7 percent||VW Passat||-2.6 percent|
|Fiat Brava||+4.8 percent||Audi A6||-4.8 percent|
|Opel Astra||-3.1 percent||BMW 5 Series||-4.5 percent|
|Renault Megane||-7.8 percent||Mercedes E-Class||-6.4 percent|
|Toyota Corolla||-5.5 percent||Opel Omega||-5.3 percent|
|VW Golf||+0.9 percent||Saab 9-5||-5.0 percent|