Wednesday 28 June 2017

Where cars lose values quickest; your World Car vote; why don't we bother to check?

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Luxury saloon: Porsche Panamera.
Luxury saloon: Porsche Panamera.
Eddie Cunningham

Eddie Cunningham

Adding fuel to the fire on the whole imports front, here are extraordinary claims in a study which says new cars in the UK lose their value more quickly than anywhere else in the world - except New Zealand.

In other words, buyers of used UK cars - and that includes Irish people big time these days - are benefitting from a 51.9pc fall in the price from new, the research suggests.

It's all a bit sweeping and presumptive in some areas - cars lose a lot of value in their first three years anyway - but it will, no doubt, be used by sellers to tempt even more Irish buyers into doing an import deal.

The study by online used-car dealership Carspring says the near-52pc drop in value is for cars with an average of 34,700 miles on the clock.

As a matter of interest it claims China and Turkey are the least depreciating markets of the 24 studied worldwide, with new cars losing 29.42pc and 29.50pc respectively. Mmmmm.

The dealership measured the prices of used cars for sale in the UK's five biggest cities, both online and physically at retailers. Remember, however, that prices asked for and prices received are two different things.

Anyway, they claim the data show the UK to be "very much a second-hand-buyers' market".

As if tens of thousands of import owners in Ireland didn't already know that.

* Audi have added a more powerful RS Sportback to go with the newly unveiled RS 3 saloon. The 5cyl TFSI engine packs 400bhp. It will be shown at Geneva with a big level of connectivity upgrades too. It will go on sale here in the third quarter.

The company will also preview a powerful new RS Q8 concept at Geneva to rival the BMW X6 M.

That's what you call a barnstormer.

* Thanks to all who sent in their preferences for World Car of the Year.

My goodness some of the reasons for choosing models show a wealth of knowledge and detail.

I really appreciate you going to the trouble. And for those of you who asked: No I can't publish my preferences yet.

* DS is to make a mid-sized SUV and it is due early next year, according to reports.

* Porsche's Panamera E-Hybrid is going to get a hot 500bhp version and it will make its debut at Geneva.

* Renault boss Carlos Ghosn admits that uncertainties surrounding Brexit as well as a possible renegotiation of the North American Free Trade Agreement under Donald Trump pose 'risks' for his Alliance automakers.

You're going to hear a lot more of that kind of talk.

* Would it surprise you to learn that half of those who bought a secondhand car didn't even bother to check on basic safety items before handing over their money?

It sounds incredible but that is what a recent study found.

According to the research from Kwik Fit in the UK many motorists make things even worse by not putting the car in for service for at least six months after purchase.

In a way I can understand that, especially if they've been told the car had already been serviced.

But not checking basics is a real worry.

Here's just a flavour of what they found:

* Only 49pc examined the depth of tread on the tyres,

* only 46pc tried the brakes and 44pc the lights.

* A mere one-third bothered to see if there was a spare tyre.

Now there is a recipe for trouble.

Indo Motoring

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