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Last quarter was very confusing to follow as there were 3 or 4 different threads on the go all with different information regarding the new quarters prices. Hopefully, everyone will agree that it makes far more sense to have just one thread with this information, so I thought I would start this one.
So please post any confirmed prices (rather than rumours, speculation or wish lists) on this thread. Thanks!
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This info from a Dealer Principal who was at a meeting with Motability yesterday. The price hikes we have noticed this quarter are primarily driven by concerns about the residual (second hand) values of electric vehicles. As we know, Motability have been really pushing the adoption of EVs and therefore their exposure to the current market volatility in this segment is growing. Motability are warning that they are continuing to review this and that whilst they are currently trying to minimise the impact on customers, more price increases are likely. Someone posted a quote on here recently from a trade journal quoting Motability Operations as saying that each 1% movement in residual values affects them to the tune of £102m. Used values of ICE cars have been phenomenally high in recent years due to new car supply issues, and Motability Operations really cleaned up on the back of this, but as these supply issues are pretty much all resolved now that windfall is all but over. The specific problems with the residual values of EVs has been widely reported, and appears not to be lessening. I think we had assumed that this was being offset by manufacturers offering very good deals at the point of purchase, but it appears that isn’t covering all of the potential exposure. I am unclear as to whether future increases will be restricted to EVs (where the specific residual value concerns are) or will be spread wider (including ICE cars) so as to still encourage the take up of EV’s. I suspect it will be the latter.
Intersting but, it doesn’t take a genius to work out whats happening in the used car market.
Should Motability not restrict price increases soley to EV’s encouraging take up, then I can see alot of people who wouldn’t have otherwise done, leaving the scheme on affordability grounds!
Either that or the grants team will be super busy.
Residuals have been tough for quite a while, not helped by the over correction from the falsely high values through Covid and the chip shortages that followed. Obviously once prices dropped it seemed to push buyers into a lack of confidence around future values and there’s still nonsense around ownership of a used EV including the battery will fall apart/ignite at 4 years old and cost tens of thousands to replace.
An over correction suggests that there will be a further correction upwards at some point. Whether that’s when confidence in EVs and the infrastructure increases or whether we’re waiting for a solution for those living in flats for demand to increase.
I'm Autistic, if I say something you find offensive, please let me know, I can guarantee it was unintentional.
I'll try to give my honest opinion but am always open to learning.Mark
@kezo True, but I was surprised that residual values of EVs in particular are having such a concern at Motability Towers when take up still remains relatively low as a percentage of their total customer base.
Re affordability, I read the other day was that something like 60% of Motability customers have an income of no more than £20k a year. It must be enough of a struggle for those folk to sacrifice £12k of benefits over 3 years, but how they can raise APs of many thousands of pounds is beyond me. It’s sad that the people who are going to be priced out of the scheme are probably those who most need it.
@kezo True, but I was surprised that residual values of EVs in particular are having such a concern at Motability Towers when take up still remains relatively low as a percentage of their total customer base. Re affordability, I read the other day was that something like 60% of Motability customers have an income of no more than £20k a year. It must be enough of a struggle for those folk to sacrifice £12k of benefits over 3 years, but how they can raise APs of many thousands of pounds is beyond me. It’s sad that the people who are going to be priced out of the scheme are probably those who most need it.
very sad indeed, I would say let’s hope whoever wins the election does something about all these issues but I highly doubt that
im calling it now, if the £750 isn’t extended again for next year then we’ll see most these manufactures drop prices by £750
plus if they’re gonna put APs up to those prices, at least add more trim levels / packages for another extra £1k
what’s the point in having a q4 sport back if its only the entry trim, if someone can afford 7k for it im sure they’ll be happy to add another 1-2k for a black edition / s line with a pack
They need to stop giving so much of our money away to charity and use it to reduce AP’s. At the end of the day it’s our money and should be used to benefit us. I feel really sorry for the people who are getting priced out of having a car that suits their needs. I know Motability keep saying there are x number of cars with little or no AP but those cars aren’t exactly practical in the majority of cases.
I am absolutely gutted with the new AP figures. I am only able to order my new car from the 13th July so have been spending the last month researching to see which car best suits my needs. And now i am back to square one.
Some of the increases are insance, there are a few vehicles which haven’t changed prices i.e Dacia Jogger, and some still reasonable i.e scenic alpine. But overall left very deflated
I agree that the AP’s are absurd but those who waited for the this quarter to order, we took the risk (this includes me) knowing this might happen so in my opinion we can’t cry about it. For those new to the scheme and genuinely can order from this quarter I feel for you.
Mercedes price list https://tools.mercedes-benz.co.uk/current/passenger-cars/motability/mercedes-benz-motability-price-guide-q3-2024.pdf
That’s a really poor effort by Mercedes at promoting their cars, no? One page, jammed together, no information on models offered. Very much a: “not worth my time but there you go” type of thing. Illustrated by the “manufaktur paint” detail at the bottom. Not interested in the cars from Mercedes and I’m probably being picky but it doesn’t reflect well on their view of Motability and their clients.
If you want to see worse, just look at the Lexus price list: https://www.lexus.co.uk/content/dam/lexus/nmsc/united-kingdom/motability/Q3-2024-New-Lexus-Motability-Customer-Price-List.pdf
It’s pretty lazy, yes. At least Lexus provided another page (blank but still) for the 5 cars they offer though.
Mercedes have 18 cars listed on one page which is bone idle.
Thanks for your efforts on finding deals for us @BigDave, greatly appreciated.
Just ordered our Renault Scenic Esprit Alpine in shadow grey with black roof, will be here in under 2 weeks. Definitely the best value car at the moment
Just ordered our Renault Scenic Esprit Alpine in shadow grey with black roof, will be here in under 2 weeks. Definitely the best value car at the moment
@lee6613 What was the AP including the shadow grey matte paint if you don’t mind me askingWhat is the estimated delivery times?
Its s stunning vehicle is the grey
We ordered in metallic as the quickest times but for matte you are looking around late august/early September. The AP didn’t change as I mentioned an a post a few days ago the paint options with Renault are no extra cost even the matte option. One dealership was trying to charge extra which is incorrect. The shadow grey with black roof is supposed to cost £1041 but our AP stayed £995
Bet you can’t wait.
Due to pick up our Austral Techno Esprit Alpine on Wednesday. Flame Red with black roof. An absolute beauty!!
The boot in the Scenic is big enough to fit our daughter’s things in so we are happy
Doesn’t matter what others think, as long as your happy 🙂
545l isn’t small.
Finally, Hyundai Brochure is here https://www.hyundai.com/uk/en/offers/new-cars/motability.html
Current Car Ioniq 5 MY24 77KWh RWD
Previous Cars: Kona Electric 2021 UK, Seat Ateca 2.0 Diesel Turbo
I was seriously considering an EV but seems I will need a non-standard charger so will have to pay extra. I see the new Golf R line 150 is available for an AP of £1199 which has the same engine as the Leon FR I currently have on lease so I may abandon the EV idea.
OHME says I will need extra long cables because of the distance to my drive from the power box. I have emailed them back to see how much this will cost.
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