LONDON, England – Fans of the iconic Land Rover Defender who rushed to buy a piece of history are proving to have made a smart investment as prices soar against anticipated shortages since production stopped in 2016..
Automotive valuation specialists CAP say good examples are demanding a huge premium over new list price. You could, in fact, say that, like the Defender, prices could go anywhere…
John Watts, senior editor at CAP, said: “We’ve already started to see an upward movement in trade values for the Defender in general due to the anticipated demand and potential shortage following the end of production. Over the longer term we expect retail buyers to keep their vehicles longer because they know that finding a replacement will be nigh on impossible.
HUGE PREMIUMS FOR ‘NEARLY-NEW’
“Defender 90 units are expected to be the highlight of the range since this model is closest to the original first production versions and a Defender with a ‘premium’ conversion will do exceptionally well.”
CAP says a three-year-old Defender 90 Hard Top that had covered 50 000km was valued at £11 600 (about R267 000) average trade price in June 2015. The 2016 equivalent can pull £12 300 (about R283 000).
Dealers are demanding huge premiums for nearly new vehicles. A Land Rover Defender 90 2.2d three-door showing 1600km which cost £17 000 +VAT (about R390 000 ) new was listed on Autotrader at £30 000 (about R690 000).
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Land Rover dealer Ross Munro from LR Motors in North Yorkshire, north-eastern England, reported: “Nearly-new or pre-registered Defender units are selling for 20% above list price and we are seeing some owners asking for more. With 75% of Defenders ever built still on the roads they could prove a smart buy for investors or enthusiasts.”
HIGH PRICES HIT AFTERMARKET, TOO
The Defender has attracted a thriving aftermarket with specialist companies such as Twisted producing enhanced vehicles with prices up to £150 000 (about R3.5-million).
Twisted say it has seen enquiries jump by 30% with interest coming from businesspeople and celebrities around the world.