Used car prices are falling as the market corrects, but none more so than models from Land Rover and Range Rover.
That point has been 2023, with used car prices dropping by double digits as there appears to be more supply than demand, and none have been hit harder than models from Land Rover and Range Rover.
According to CAP HPI, the price drops have been considerable for JLR’s models, with the biggest loss in the last six months being the 30.4 per cent drop in the value of a three-year-old Range Rover Evoque with 30,000 miles on the clock.
JLR is spared the ignominy of making up the entire top four in CAP’s list with the Renault Captur in second place clocking up a 30.1 per cent loss, but third place went to the Range Rover Sport with a 28.3 per cent loss and the Discovery Sport also with a 28.3 per cent loss. Other big drops for JLR include the Range Rover Velar (down 25.4 per cent) and Jaguar F-Pace (down 23.8 per cent).
Of course, it’s not just JLR’s used car values tumbling, with everything from the BMW 2 Series Convertible to the Skoda Karoq falling more than 25 per cent.
But JLR’s problems seem to be the worst, fueled by huge numbers of thefts from inadequate security leading to huge insurance premiums (something JLR is trying to fix), to reliability issues which don’t seem to be going away and a huge backlog of unrepaired cars at JLR dealers due to ongoing supply issues.
Top Ten Biggest Used Car Value Losses in the last six months
- Range Rover Evoque: 30.4%
- Renault Captur: 30.1%
- Range Rover Sport Petrol Hybrid: 28.3%
- Land Rover Discovery Sport Hybrid: 28.3%
- Skoda Karoq: 28.1%
- Vauxhall Grandland X: 27.1%
- Lexus UX Electric: 27.1%
- BMW 2 Series Convertible: 26.2%
- Vauxhall Grandland X Petrol Hybrid: 25.8%
- Range Rover Velar Diesel,: 25.4%
Graham Slater says
Availability of the overpriced parts is massive problem
After JLR main dealer blew up the Body Control Unit whilst in their care for a non locking door and then told it was going to be 6 months to a year for getting a replacement.
Jag XF 3.0 D in Leeds.
Now gone back to E class Merc
Tina says
Up your game JLR security crap EV lithium fires are horrendous oxygen generating fires.
HYDROGEN THE WAY FORWARD.
SORT ANTI THEFT out
Gary Street says
Great looking cars but reliability horrendous
Malcolm Youens says
Having experience of owning an Land Rover EVO I can see why no one wants them it cost me about £2500 just to keep the thing on the road with engine bearings going and engine management closing the engine down other things and that’s on a 16 plate I was advised to get rid of it soon as I did
Taylors says
JLR , a disgrace of a company. Dealers that provide an overcharged and shoddy service from premises that their victims of customers pay through the nose to maintain to a high standard of polish.The entire layers of customer service throughout their business model is DIRE. So many people I have spoken with of late all have the same depressingly familiar answer, they won’t be interested in any JLR product ever, in the future. Total customer relation and respect failed most miserably. What a waste of an opportunity ,to lose previously faithfully and loyal customers on mass! Perhaps when the share price collapses , JLR might wake up, I think if so, it will be too late ! So sad.
Geoff says
Some one sounds like they have got out of bed the wrong side!
Frank Wood says
All true. Waited 6 months for a new engine, but dealer contact and updates terrible.
John C Taylor says
Agree entirely about main dealers offering poor service. I rang both the Elgin and Aberdeen dealers asking for a price to fit a new rear diff bearings and apart from being told one couldn’t fit me in until January and the other that they would have to go to parts then the workshop to price it up I haven’t heard anything.
Not good enough Land Rover