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The used car that is being sold at a profit


Secondhand versions of the new Porsche Macan are being sold at a sizeable profit as demand hugely outstrips supply. But will this anomaly last?

Porsche Macan

It’s a truism that the quickest way to reduce the value of a new car is to drive it off the forecourt.

But a new sport utility vehicle (SUV), the first to be made by luxury German brand Porsche, appears to have reversed this trend.

Rave reviews

Launched last year, the Porsche Macan received rave reviews when it reached the UK.

But a severe shortage of supply coupled with soaring demand means that potential buyers face a long wait to get their hands on a brand-new model.

As a result, used Macans are now being sold for significantly more than their dealer price on the secondhand market.

New Macans start from £44,000, but at the time of writing the Autotrader website was listing 10 used models ranging in price from £57,000 to £86,000.

Tim Bearder, a car pricing expert at analyst CAP, says that dealers currently have a typical 14-month wait to supply new models.

Booming market

"Demand for the Porsche Macan began well before its launch in March 2014 and the waiting list reached almost two years in some cases," Bearder adds.

"Our research indicates that every used Macan currently advertised in the retail market is priced above the original manufacturer’s cost new, even when you take all the additional fitted options into account."

Demand for the Macan reflects a general upswing in the UK motor market.

Figures just released by the Society of Motor Manufacturers and Traders (SMMT) show that last month saw the highest level of January new car sales for eight years.

Porsche forbids dealer buybacks

Man handing over keys

Almost 165,000 new vehicles were registered in the 35th consecutive month of sales growth.

Bearder says that dealers would dearly like to buy back Macans the moment they were sold, but that Porsche’s sales policy forbids this practice.

He adds: "There have always been a few cars that fetch more than their original cost new, when demand seriously outstrips supply.

"But we’re usually talking about situations where someone is lucky enough to be able to afford to spend £75,000 plus on a rarity, classic or supercar.

Will the situation last?

"But the Macan, starting at just under £44,000 for a standard diesel model, costs much less new than any car that would normally guarantee you no depreciation or even a return on your investment."

But will new Macans continue to defy the received wisdom on depreciation?

"The only thing that will change this situation is if Porsche decides to increase the number of Macans they produce, so that supply matches demand,” Bearder says.

"Whether they will or not remains to be seen.

Mondeo holds value best

"But the value of the Macan’s reputation as a car that pays you to drive it is probably worth more in the long term to Porsche than the additional revenue they would generate by selling more of the cars."

Among more mainstream cars, recent research from CAP found that the Ford Mondeo was likely to hold its value better than its German rivals, particularly in the company-car market.

The likes of BMWs, Audis and Volkswagens traditionally offer the best protection against depreciation.

But CAP’s Dylan Setterfield says that a diesel Mondeo 2.0 TDCi ECOnetic Zetec is predicted to hold on to 43% of its new list price after three years and 30,000 miles.

"That compares with 38% for a diesel Audi A4 2.0 TDIe SE, 37% for a BMW 3 Series 318d SE and 42% for a Volkswagen Passat 2.0 TDI Bluemotion Tech Executive," he adds.

"The new Mondeo is anything but ordinary and its sheer good looks are a big contributor to such strong expected value retention as a used car in three years."


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