Monday, August 18, 2008

Chelsea Tractors Worth More as Scrap Metal

Rising fuel prices are helping to secure the fate of 4x4s as a hugely undesirable car for the future.

A recent article in the Daily Mail reported that car dealers are refusing to take gas-guzzling 4x4s as a trade in towards new car purchases as the values for secondhand cars fall.

According to the article, 'There is no appetite at present for thirsty 4x4s that would typically cost £100 or more to fill up with petrol as fuel prices continue to soar, and become liable for more than £450 a year in vehicle excise duty by 2010 for models currently two years old.'

As the chart above shows, second-hand prices are expected to fall by 12% by Christmas.

'The one bright spark was with 'green' or alternatively-fueled vehicles, where sales rose 19.4 per cent last month.'