It has been reported that sellers’ desire to trade in their fuel inefficient larger cars for smaller, cheaper vehicles is causing headaches for used car dealers.
Research conducted by EurotaxGlass’s, which has been publishing a guide to car values for 75 years, has discovered that large cars which are perceived to be less fuel efficient and potentially the subject of much higher rates of road tax have dropped by as much as eight per cent in value a single month this summer.
This particularly applies to large executive cars and 4x4s which are seen as too large to negotiate the rocky economic roads of credit crunch Britain.
Adrian Rushmore, managing editor at EurotaxGlass’s, welcomed the fact that the current economic turmoil is driving sales of smaller models.
But he warned: "Customers are presenting dealers with a lot of unwanted part exchanges – cars that are fuel inefficient, with high emissions and often large.
"Dealers are left to anxiously ponder the demand for, and declining values of, such cars."