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StängHow does a car’s design influence its residual value?
Discover how and why a vehicle’s design has a major impact on new and used-car values. Plus, learn how to quickly identify the most profitable vehicles for your portfolio.
Discover why a car’s appearance has a strong influence on its lifetime value.
Understand the impact that car interiors have on residual values.
Learn how to identify vehicle features that strengthen residual values.
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How a car’s exterior design influences its residual value
A vehicle’s appearance is one of the most important purchasing factors for all car customers. So, exterior design has a heavy influence on residual value.
Cars are designed appeal to our senses and prepare our expectations. A model could feel beautiful, sporty or sophisticated – but what’s important is that it evokes a positive emotional response that builds value.
That’s because residual value is driven by supply and demand. If a car is visually unappealing it generates a low perception of enjoyment, low value and less demand from customers. Plus, since the automotive market fluctuates daily, we advise that you review your stock’s value often – or risk burdening an expensive and undesirable portfolio.
Autovista’s market-beating data accuracy puts your business at the cutting-edge of car pricing trends. Easily review the fastest sellers, biggest risks and regional variations as often as you need. Click below to learn more.
How a car’s interior design affects its residual value
Much like the exterior, the quality of a car’s interior is one of the most immediate factors when purchasing a vehicle. This is particularly true when it’s sold as a used car for the first time.
High-quality materials, controls and workmanship indicate robustness and reliability after some years of use. These positive tactile impressions satisfy used-car-buyer expectations, boost desirability and therefore strengthen residual values.
Looking for a quick and reliable way to compare technical specifications across competing models? Use AutovistaIDD to easily identify exact matches- including optional equipment – and stock the most profitable models for your portfolio.
Why a car’s design must remain attractive over time
In order to retain high residual value, it is important that a car’s emotionally positive response is maintained over time. That’s why cars are more often designed to look classic, rather than daring.
Buyers want emotive cars that feel fresh and high quality – even on the used-car market. So, automotive professionals must frequently assess the most likely future market trends.
However, market fluctuations can have a sudden and dramatic effect on residual values. To account for new market developments and avoid financial risks, we recommend you reforecast your vehicle or fleet’s true future value regularly.
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Why simplicity is key to retaining strong car residual values
A clear understanding of a vehicle’s functions will help strengthen residual value – since perceived value is a key influencer. For new-car buyers, there is usually a salesperson explaining these functions. However, a vehicle on the used-car market must often make its own impression.
A complex offering leads to disappointment in potential buyers and a decreasing interest in the car. Manufacturers, fleet owners and remarketers alike can avoid this disappointment by regularly reviewing which features have the best effect on current and future residual values.
Residual Value Monitor lets you drill down into the cause and effect of residual value trends and pinpoint exactly why customer opinions might be changing. Click below to learn more.