It seems there is plenty of pace yet in the rush to crossover vehicles, and the used market is following suit
The continued rise of the crossover vehicle, those models that aren’t quite full off-roaders but which offer a higher driving position than conventional hatchbacks and saloons, is continuing unabated. And it seems that the used market is keen to offer second homes to the ever-increasing numbers of new crossovers taking to the roads.
“Used values show that the crossover/SUV bodystyle is still very popular,” Glass’s forecasting editor, Robert Redman, tells Company Car Today.
“For most people, the decision is driven by the same factors for both new and used – style, practicality and perceived safety.”
“They meet consumers needs perfectly by having plenty of interior space with a high driving position and a practical boot,” adds Aston Barclay managing director Martin Potter. “The crossover and SUV sectors are popular used car sectors.”
Redman continues: “Crossovers were originally seen as an alternative to the more regular bodystyles, but their popularity has grown dramatically, replacing many as the default choice for a family car.
“What was once a niche vehicle is now a staple part of most manufacturers’ line-ups. As a result values are much more stable, influenced primarily by the ‘usual factors’ such as fuel type.”
Redman also says the crossover and SUV bodystyle will be helped by the move to electric vehicles, saying: “The higher driving position and taller bodies make the placing of a battery pack under the floor easier.”
WISH LIST FOR CROSSOVER BUYERS
l Four wheel drive – due to low numbers in the market
l Automatic gearboxes
l Panoramic roof
l Most desirable models: Kia Niro, Kia Stonic, Seat Arona, VW T-Roc
RV GAP NARROWING WITH HATCHES
Opposing forces are bringing residual values of crossover models closer to those of hatchbacks, according to Glass’s. The RV advantage over hatches has narrowed over the past couple of years as both the volume and the variety of crossovers continues to increase, and the volume of regular hatchbacks suffers. However, it’s worth noting that a price premium does remain, due to crossovers’ higher initial price next to that of a hatch or saloon.
BCA COO UK remarketing Stuart Pearson offers his thoughts on the crossover and SUV sector
1. Forecourt appeal.
The latest generation of crossovers offer refined motoring, robust good looks, plenty of options and flexibility for families. Ideally, these should come to market with a good level of specification and in a good ‘retail’ colour – something to consider if you are specifying fleet models at the front end.
2. Different is a strong driver for drivers…#
Motorists’ expectations are continually growing and the need to be seen driving something a little bit different is a powerful factor. Manufacturers have successfully introduced a number of niche models, and these are proving very desirable in the wholesale sector. However, there is still plenty of demand across more familiar body shapes as individual buyers have specific needs.
3. …but condition is still key.
Buyers are fussy over condition and mileage, and a full service history is important. It is worth investing in pre-sale preparation to repair any damage to paintwork or trim.
4. Crossovers established as a mainstream sector.
With increased volumes meaning more examples, the crossover is a well-established sector of the market. Choice is critical for professional buyers because that is what their retail customers are looking for.
5. Pricing is paramount
The critical factor for used buyers is price. Some models can look costly when compared to the alternatives such as mini-MPVs or five door hatches. As always, the car must be valued in line with market sentiment, properly prepared and in clean condition to generate maximum interest.