Used 4x4 prices rise as temperatures fall
As the weather forecast from the Met Office predicts that temperatures are likely to be below average in the medium term, Manheim, the expert in the used vehicle market, has seen used 4x4 prices surge by an average of more than £1,200 (17.6%) since August.
Michael Buxton, CEO of Manheim UK, said: “It is normal to see the demand for 4x4 vehicles rise in the run-up to winter, but the increase seems to have happened earlier than usual this year, possibly due to advanced warnings of severe weather.”
In September, Met Office meteorologists stated that the approaching winter could see the strongest El Niño effect since 1950, recreating ‘The Big Freeze’ winter of 2009/2010.
In 2014, Manheim recorded a similar uplift in used 4x4 prices in November, suggesting that this year dealers are buying stock earlier for their forecourts, to attract well-prepared buyers hoping to avoid a rush to get their hands on winter-ready vehicles later in the year.
Compared to September last year, the average price of used 4x4s sold by Manheim was up by more than £2,400 (41.7%), further indicating that values are rising earlier than they did in 2014.