Article Type: Insights

Spain introduces MOVES III incentive scheme

Spain introduced the new MOVES III incentive scheme for electrically-chargeable vehicles (EVs) on 10 April, which includes hydrogen fuel-cell vehicles (FCHVs) for the first time.

All FCHVs, as well as battery-electric vehicles (BEVs) and plug-in hybrids (PHEVs) that cost less than €45,000 (excluding VAT), are eligible, with the price ceiling rising to €53,000 for vehicles with eight or nine seats. Used EVs that are less than nine months old are also eligible.

It is worth noting that across Spain and the major European markets, the residual-value (RV) disadvantage of BEVs compared to petrol cars has widened since March 2020. The greatest divergence has occurred in Germany, where the gap has widened by just under four percentage points (pp) and stood at 10 pp in January 2021. The divergence accelerated notably following the introduction of enhanced incentives on 1 July 2020.

Cautionary tale

This is a cautionary tale for Spain as it rolls out this new scheme. All governments should look into providing incentives to encourage used-BEV ownership, but these do not need to be straightforward purchase incentives. Lower energy costs for charging BEVs and visible expansion of the charging network would also be powerful signals.

‘The biggest potential risk for pressure on RVs stems from the purchase incentives for EVs. A positive and moderating effect comes from the longer-term ownership tax reduction and a lack of company-car tax benefit,’ commented Ana Azofra, head of valuations and insights at Autovista Group in Spain.

As detailed in the table below, private buyers of EVs with an electric range of at least 90 km are entitled to a subsidy of €4,500 in Spain, which is reduced to €2,500 for EVs with a range of 30 to 90 km.

IDAE MOVES III incentive scheme 1

Source: IDAE

For small and medium-sized enterprises (SMEs), the incentives amount to €2,900 for EVs with an electric range of at least 90 km, reducing to €1,700 with a range of 30 to 90 km. For large companies, the incentives are €2,200 for EVs with an electric range of at least 90 km and €1,600 with a range of 30 to 90 km.

MOVES III incentive scheme

Source: IDAE

The scheme runs until the end of 2023, with an initial budget of €400 million, rising to €800 million dependent on its success. This is significantly higher than the original funding allocation of €100 million for the MOVES II scheme that came into effect in June 2020, which the Spanish government extended by €20 million early in March.

‘We have chosen to start with those actions that families, SMEs, the self-employed and, ultimately, the entire fabric of the country can benefit from,’ explained Teresa Ribera, vice president of Spain and minister for the ecological transition and the demographic challenge, in the presentation of the MOVES III plan.

‘It is crucial to keep pace with the actions promoting the value chain of the automotive sector in our country, with the creation of employment and new business models,’ Ribera added.

Unlikely improvement

The new incentives are slightly higher for private buyers but lower for companies. However, the benefits are much greater if a used vehicle over seven years of age is traded in for scrappage. For private buyers, the incentive increases up to €7,000, and up to €4,000 for SMEs and €3,000 for large companies.

‘MOVES III constitutes the most ambitious line of support for electric mobility that our country has proposed and will allow and contribute to the economic reactivation in the short term, accompanying the necessary transformation of the industrial model of our country with the economic and environmental objectives,’ Ribera said.

Nevertheless, the new scheme is unlikely to significantly improve the fortunes of Spain’s new-car market. Registrations grew 128% in March compared with a year ago, but the comparison is distorted by the pandemic. Spanish dealerships closed from 14 March 2020. A more realistic comparison with March 2019 shows the new-car market contracting by 30%. Sales in the first quarter dropped 14.9% against last year’s figures, and were 41.3% down on figures from two years ago.

EV uptake should increase, especially among private buyers, but without an improvement in consumer confidence, and a return of tourism, the Spanish market will continue to struggle overall. Autovista Group forecasts that demand will recover from the 32% loss in 2020, albeit by only 6% to about 900,000 units in 2021.

German registrations start slow recovery in March

New-car registrations in Germany increased 35.9% in March, according to the latest figures from the Kraftfahrt-Bundesamt (KBA).

The figure was inflated due to the country’s first COVID-19 lockdown closing dealerships from mid-March in the previous year. However, at that time, registrations performed well compared to other countries. While Spain, France and Italy posted losses of 69.3%, 72.2% and 85.4%, respectively, Germany only saw a decline of 37.7%.

At the end of the first quarter, new registrations totalled 656,452 units, down 6.4% compared to the first three months of last year. This is despite dealerships being closed. The country’s market also suffered due to a VAT increase, with taxes rising from 16% to 19% at the beginning of the year. Autovista Group estimates that around 40,000 registrations were pulled forward into December last year as a result.

Brand increases

All domestic brands showed positive growth in March 2021, the strongest being Smart with a 304.4% increase. Double-digit increases were recorded by Opel (75.1%), Mini (58%), Porsche (55%), Volkswagen Passenger Cars (VW) (39.1%), Mercedes (36.7%), Audi (17.6%) and BMW (17%). VW claimed the largest share of new registrations, taking 19.3% of the market.

Alfa Romeo showed the most significant increase among the imported brands, up by 114.6%. Fellow Stellantis stablemate Peugeot saw sales grow 78.4% while Tesla enjoyed a 63.6% boost. However, Honda (-33.3%), Mitsubishi (-30%) and Jaguar (-10%) were among those to see sales decline in the month.

Electric closes the gap

In terms of fuel type, the market for battery-electric vehicles (BEVs) achieved a significant increase of 191.4%, with a market share of 10.3%. With German car brands such as VW and BMW increasing their focus on electrification, there now seems to be an appetite for the technology amongst buyers. Plug-in hybrid (PHEV) models achieved a 12.2% market share, with sales increasing 277.5% in the month.

The swing to electric drives is more evident when internal combustion engines (ICE) sales are considered. New registrations of passenger cars with petrol engines increased by 7.1%. However, the market share was just 39.4%. The sale of diesel models continued to decline, with 5% fewer in March 2021 for a 22.1% market share. For the second successive month, diesel sales were outpaced by those of hybrids. When including standard and PHEV models, this powertrain type took 27.8% of the market.

The figures, therefore, show that 38.1% of registrations in Germany during the last month were non-ICE models. This is just 1.3% below the market share of petrol in March. It may not be long until sales of these vehicles outpace those of more traditional powertrains.

Germany extended its lockdown period to 18 April following a spike in infection cases. However, the Federation of Motor Trades and Repairs (ZDK) argued that vehicle dealers should be allowed to reopen fully. The group’s main argument is that while a hairdresser, with a floor space of 10m2, is allowed to have one customer, car showrooms with a floor space of 500m2 cannot open.

European registration rates on slow road to recovery

Three big European markets saw tremendous new-car registration growth in March 2021. However, as Autovista Group Daily Brief editor Phil Curry explains, not all is as it seems.

While COVID-19 is still impacting the automotive market, March registration figures from France, Spain and Italy would give the casual observer cause for optimism. However, the period with which they are compared – March 2020 – was one of the worst for new-car sales because of the global pandemic. It marked the beginning of a prolonged period of severe declines for the automotive sector. April and May will also be subject to distorted 2020 comparisons as the pandemic’s economic impact unfolded.

March registrations in France grew 191.7% year-on-year, while in Spain, the growth was 128%, and Italy saw an increase of 497.2%. However, in 2020 these markets saw declines of 72%, 69% and 85.4%, respectively as lockdowns and other pandemic measures were implemented.

March 2020 saw the beginning of a three-month lockdown in these countries, with Italy hardest hit as infection rates increased. The country closed its dealerships on 12 March, with France and Spain shutting up shop on 14 March. Sales had slowed before this period as businesses and consumers came to terms with the disruption caused by the ‘new’ virus.

COVID-19 continues to cause problems and the automotive industry is working hard to adjust. Carmakers have strengthened their online-buying channels, while governments introduced green-vehicle incentives, although most of these have now been exhausted or concluded. Businesses are also using this quieter time to update their fleets, which has helped boost sales in some markets.

Quarterly recovery

In France, 182,774 passenger cars were registered last month, compared to 62,668 in 2020, according to data from the CCFA. But to get a true sense of the market’s state, a comparison to the last non-COVID affected period is needed. Looking at the latest figures against March 2019, the French market is 19% down.  

Over the year so far, sales are up 21% compared to the first quarter of 2020. March’s figures have helped turn around a 14% deficit from the first two months of 2021, although the 441,791 registrations are still well below 2019’s three-month level of 553,335.

During Q1 2021, and after a mixed start to the year, sales of battery-electric vehicles (BEVs) and plug-in hybrids (PHEVs) in France have picked up. From January to March, 14% of new-car registrations were plug-in capable, against 11.2% over the whole of last year. These numbers may continue to build until July when the French government will reduce its plug-in grant by €1,000.

‘In March alone, [penetration] even reached 15%, which is excellent news,’ said Cécile Goubet, general delegate of Avere-France. ’The enthusiasm is explained by the number of new models, the communication of manufacturers on the benefits of electric, and the purchasing aid which currently remains high,’ she added.

France announced the closure of non-essential retail stores last month in an effort to fight rising COVID-19 infection rates. However, dealerships are allowed to remain open, albeit for visits by appointment only.

Lack of tourism

Spanish industry body ANFAC reported growth of 128%. This meant 85,819 units were added to the country’s roads, compared to just 37,644 in March last year. However, this is a 30% decrease on the same period in 2019. Sales in the first quarter dropped 15% against last-year’s figures, and are 41.3% down on figures from two years ago.

Across the various sector channels, the market suffered from an absence of tourism at Easter. This is a period where rental firms renew their fleets, offering newer vehicles for tourists. Mobility restrictions caused this market to fall 38.6% compared to March 2019, registering the most significant decrease in sales of any sector.

‘The comparison of sales for the first quarter of 2021 with respect to the same period of 2019 reveals that the COVID-19 recovery is far from reaching the automotive sector in Spain,’ explained Noemi Navas, communication director of ANFAC. ‘With an accumulated fall in the quarter of more than 40%, no short-term sign is detected that suggests that this reduction in the market will be offset shortly. 

‘The recovery of the automotive industry is closely linked to that of tourism and consumer confidence. These indicators largely depend on the rate of vaccination and the general economic situation. It is worth noting that in Spain the registration tax was de facto raised in January and that the RENOVE plan was cancelled without spending the entire budget. We will have to wait at least for the second semester to see improvement data.’

Unfair comparisons

Meanwhile, Italy recorded a staggering rise against last year. It was the first and hardest hit market by COVID-19 in March 2020. The 497.2% increase equates to 169,684 units, against just 28,415 in the third month of last year. In the first quarter of 2021, sales were up 28.7% in comparison to ‘the worst three-month period ever’ according to industry body ANFIA.

‘After the negative performances of January (-14%) and February (-12.3%), in March the car market shows a positive sign. However, this is distorted by the comparison with a month that was without precedent in terms of negative performance, the result of the shock generated by the outbreak of the health emergency in our country,’ said Paolo Scudieri, president of ANFIA.

Therefore, since it is a completely unequal comparison, it makes more sense to compare this third month of 2021 with March 2019. Here, registrations are down by 12.7%, a sign that the pandemic’s effects are still impacting the sector’s recovery. It is hampered further by an uncertain economic situation and a crisis in the supply of certain raw materials that is persisting.’

Overall outlook

Figures for April and May will also likely be skewed as markets across Europe claw back sales lost in a period of extreme measures from 2020. It will now become essential to compare figures from this year to those from 2019 to chart how the industry is recovering. While sales are projected to improve year-on-year in 2021, as is demonstrated in the Spanish market, other factors, such as a lack of tourism and therefore a drop in rental renewals, can continue to hurt the industry throughout the year.

Much depends now on vaccination efforts. COVID-19 infections are rising at different rates across the continent. Still, markets that can increase the number of vaccinations, reopen and achieve some form of normality will recover more quickly. It will not be until 2022 that vehicle registrations can genuinely look to rebound.

Schwacke Newcomer März 2021 – Neue Modelle im Forecast

Hybridisierung des Abendlandes – Wer wenig Wahl hat, hat die Qual

Im März haben wir wieder Restwertprognosen für interessante Fahrzeugneuerscheinungen in unsere Datenbank aufgenommen:

  • DS Automobiles DS9
  • Lynk & Co 01
  • Mercedes-Benz EQA
  • Suzuki Swace und Across
  • Toyota Highlander


DS Automobiles DS9 – Noblesse oblige

DS Automobiles DS9 mit Villa im Hintergrund

War DS historisch gesehen nur die Bezeichnung für die legendäre Modellreihe aus dem Hause Citroën, haben die Edel-Franzosen aus dem mittlerweile zu Stellantis mutierten Multi-Markenkonzern Ambitionen zu einer wachsenden eigenen Modellpalette. Längst ist aus der – neudeutsch – Subbrand eine eigenständige Marke erwachsen, die das Premiumsegment für den Konzern bedienen soll. Nach den anfänglich noch unter dem Doppelwinkel laufenden und längst eingestellten Nummern 3, 4 und 5 folgten zunächst zwei zeitgemäße SUVs, DS7 und DS3 mit der Namensergänzung Crossback. Nun kommt also die Nummer 9, eine Limousine im Dunstkreis der oberen Mittelklasse, die wieder Anleihen an die eigene Vergangenheit nimmt. Und damit ist nicht nur das Concept Car Numéro 9 aus dem Jahr 2012 gemeint. Insbesondere die rückwärtsgerichteten Reflektoren am oberen Ende der C-Säule, die Heckleuchten und die sich drehenden LED-Würfel im Hauptscheinwerfer erinnern an die innovative Lichttechnik der Ikonen DS und SM. Ansonsten ist der fast 5 Meter lange Gleiter innen wie außen sehr modern gestaltet und ansprechend verarbeitet. Preislich positioniert sich der fast-größte Stellantis-PKW zwischen der oberen und mittleren Mittelklasse des Premiumsegments. „Fast“ größte deshalb, weil tatsächlich der Opel Insiginia Sports Tourer noch 3cm länger ist, auf 6 cm kürzerem Radstand wohlgemerkt. Entsprechend viel Platz findet sich im Inneren neben den schon aus dem DS7 Crossback bekannten Designelementen. Viel futuristisches Rautenmuster, Leder und ungewöhnliche Optik ragen aus der Menge heraus und suchen nach Fans jenseits des Mainstreams. Mainstream wäre konzeptionell ohnehin nicht sein Ding, liegt der Stufenheckanteil in der mittleren und oberen Mittelklasse hierzulande gerade mal bei einem Viertel bzw. einem Drittel. Außerdem startet der Edel-Franzose nur mit einem Benziner und Plug-In Hybrid, was zusätzlich etwa 50% der verbleibenden Zielgruppe eliminiert. Die beiden Crossbacks schaffen es im Jahr auf kleine vierstellige Neuzulassungszahlen, das wird der Nummer 9 vermutlich nicht vergönnt sein. Für die Verkäufer gebrauchter DS9 sind das eher gute Nachrichten, da die geringen Stückzahlen sich positiv auf den Wiederverkaufspreis auswirken werden. Das größere Augenmerk liegt dann für die Marke in diesem Jahr vermutlich eher auf der schon angekündigten Neuauflage des DS4. Wie der Neuner ein echter Hingucker im Kompaktsegment und – vielleicht ein Pluspunkt hierzulande – in Rüsselsheim gebaut.


Lynk & Co 01 – The missing Lynk

Lynk & Co 01 Fahrzeug

Der Markenname und die Modellbezeichnung weisen auf ein innovatives Konzept hin. Und so ganz abwegig ist dies auch nicht. Lynk & Co ist die Marke aus dem chinesischen Geely-Konzern, die sich nach eigenem Bekunden maximale Digitalisierung und ein ungewöhnliches Geschäftsmodell auf die Fahne schreibt. Mit dem Modell 01, das in China bereits seit 2017 auf dem Markt ist, soll nun der verspätete Startpunkt in Europa gesetzt werden. Zunächst schien es, der Kompakt-SUV werde nur in einem flexiblen Abo-Modell angeboten, dessen Rate sich für den Kunden durch die Bereitschaft, „sein“ Auto mit anderen in einer Art Carsharing zu teilen, reduzieren ließe. Aktuell ist allerdings auch ein Listenpreis zu Barkauf oder Finanzierung publiziert. Ausschließlich Abo war den europäischen Verantwortlichen dann vermutlich doch zu heikel und einschränkend. Ebenfalls ungewöhnlich ist, dass der 01 nur als Vollhybrid oder Plug-In angeboten wird, in einer von zwei Metallic-Farben – blau oder schwarz – und quasi vollausgestattet daherkommt. Lediglich eine Anhängerkupplung kann ab April gegen Aufpreis montiert werden. Die zukünftigen Lynk & Co Fahrer werden dabei aus Herstellersicht „Mitglieder“ und die wenigen Showrooms nennt man „Club“. Dieses Konzept macht es allen Beteiligten in mehrerlei Hinsicht leicht. Zum einen muss der Neuwagenkunde nicht lange konfigurieren, kein Autohaus besuchen und kann mit wenigen Klicks bequem am heimischen Rechner abschließen. Zum anderen vereinfacht die üppige Ausstattung dem Gebrauchtkunden und –verkäufer das Geschäft. Man weiß, was man hat und was man kriegt. Zudem erleichtert die europaweit einheitliche Konfiguration das Cross-Border-Geschäft und die effiziente Verteilung von Gebrauchtfahrzeugen in aufnahmefähige und profitable Märkte. Gute Aussichten also aus Restwertsicht und die solide Volvo-Großserientechnik wird ihr Übriges tun.


Mercedes-Benz EQA – Es summt im Ländle

Mercedes Benz EQA auf einer Straße

Mercedes legt nach und bringt unter der Submarke EQ sein nächstes Modell auf Basis des GLA heraus. Damit kommt man dem Marktbegleiter aus Ingolstadt in diesem Segment zeitlich zuvor und hinterlässt in München gar eine Lücke. Konzeptionell gehen die Stuttgarter dabei wie schon mit dem EQC und EQV etwas konservativer vor und versuchen anscheinend auch elektro-skeptischen Kunden optisch nicht zuviel zumuten zu wollen. Innen wie außen ist der bisher kleinste E-Mercedes sehr modern aber wiedererkennbar. Selbst die Preisliste lässt kaum erkennen, dass hier ein besonderer Antrieb unterwegs ist, sieht man vom Ladezubehör einmal ab. Und auch die technischen Daten hätten beim schnellen überfliegen von einem Verbrenner stammen können, wenn da nicht Höchstgeschwindigkeit und Beschleunigungswerte wären. Die einzig angebotene 66,5 kWh Batterie sorgt zwar für angemessene 486km NEFZ-Reichweite, aber 190PS, maximal 160km/h und 8,9 Sekunden bis auf Hundert hinterlassen ein weniger freudiges Gefühl bei sportlichen Fahrern. Die Kfz-Steuerersparnis von bis zu 260 Euro im Jahr dürfte für Wechselwillige ebenfalls kein schlagendes Argument sein angesichts über 47.000€ Grundpreis. Hilfreich ist da aber bestimmt die sicher nicht zufällige Positionierung dieses Bruttopreises. Zieht man die Mehrwertsteuer ab, rutscht der EQA netto knapp unter die magische BAFA Fördergrenze von 40.000 € für erhöhten Prämienbezug. Brutto volle 6.000€ werden damit fällig seitens Vater Staat und bringen den Stromer damit preislich unter den gleichstarken GLA Diesel und in die Nähe der vergleichbaren Benziner. Mercedes zielt nicht zuletzt dadurch offenbar auf Vernunftkäufer, die wechseln wollen. Eher konservative Umsteiger, die auf wenig verzichten möchten, aber auch kein großes Aufsehen um ihren ökologischen Ansatz machen. Irgendwie passt das auch wieder perfekt zum Bundesland, in dem der EQA vom Band läuft.


Suzuki Swace und Across – Sagt mal, wo kommt Ihr denn her?

Newcomer 03-21 Suzuki Across

Die beiden Neuen in Bensheim sind ein gutes Beispiel für die etwas unstete Produktpolitik der vergangenen Jahre. Der Hauptgrund für ihr Erscheinen ist in erster Linie das in der Branche umgehende Schreckgespenst der CO2-Strafsteuer. Bisher war es in der Modellpalette der Japaner schlecht bestellt um Elektro- oder Hybridfahrzeuge, die den Flotten-CO2-Ausstoß verbessern. Diesen Mangel sollen die beiden nun beheben und wurden von den Händlern sicher sehnlichst erwartet. Der Across steht als Kompakt-SUV ausschließlich mit Plug-In Hybrid und der Swace ganz ohne Stecker aber dafür mit dem Vollhybrid von Toyota im Handel. Und damit wären wir auch gleich bei der Antwort auf die Frage, wie die Neulinge jetzt so schnell aus dem Hut gezaubert wurden. Swace und Across sind erkennbar und ganz unverhohlen Lizenzbauten von Corolla und RAV4. Ein Gegengeschäft macht‘s möglich, dass Suzuki kurzfristig und ohne Entwicklungsaufwand erprobte Motoren und für ihre Qualität bekannte Modelle ins Portfolio aufnimmt. Ähnlich wie beim Lynk & Co 01 ist die Wahlmöglichkeit der Kunden gering. Die Farbe aussuchen und das war’s. Unterschiedliche Ausstattungslinien spart man sich, um der Verfügbarkeit willen. Beim Preis leistet man sich aber insbesondere im Vergleich zum RAV4 zwei Patzer. Zum einen liegt der Across etwa auf dem Niveau der höchsten Ausstattungslinie seines Genspenders, lässt aber wertvolle Bestandteile wie z.B. das Navigationssystem vermissen. Zum anderen hat Toyota es durch geschickte Nomenklatur und Paketierung der Ausstattungen geschafft, alle Varianten beim BAFA in die höher bezuschusste Plug-In Kategorie unter 40.000€ Netto-Listenpreis zu bringen. Das ist dem Suzuki durch die einzige, höherpreisige Version nicht vergönnt. Das Problem hat der Swace wiederum nicht, ist er doch genau wie sein Fließband-Bruder Corolla Touring Sports als Vollhybrid ohnehin nicht förderfähig. Aber auch hier hat der Nachkömmling gegenüber dem Erstgeborenen einen leichten Preisnachteil im direkten Vergleich. Dennoch sind die Suzukis gut ausgestattete und fair eingepreiste, technisch ausgereifte, moderne Angebote, die der händlertreuen Kundschaft den Weg ins neue, elektrifizierte Zeitalter ebnen können.


Toyota Highlander – Es kann nur einen – Antrieb – geben

Toyota Highlander auf einer Straße mit einem Haus im Hintergrund

Gegenüber den koreanischen Wettbewerbern fehlte bisher in der Toyota-Palette ein adäquates Gegenstück zum neuen Sorento und Santa Fe. Und bevor man nun in der ureigensten Königsdisziplin – dem Vollhybrid – das Feld Kia und Hyundai kampflos überlässt, griff man rasch ins Konzernregal. Der Highlander ist schon seit vielen Jahren im Heimatland, den USA und Australien erhältlich und wird in der jetzigen Generation seit 2019 dort verkauft. Nun also auch in Europa. Dem aktuellen Trend der Branche folgend gibt die Aufpreisliste für die einzig verfügbare Motorversion nicht viel her. Allradantrieb ist Serie, allerdings kein „echter“, sondern die an beiden Achsen befindlichen E-Motoren verleihen das Kürzel AWD-i. Drei Ausstattungslinien sollen alle Kundenwünsche abdecken und lediglich die Anhängekupplung und Panoramadach sind optional. Die Einstiegsversion „Business Edition“ verfügt dabei zwar über das meiste, das man braucht. Das Preisniveau ist allerdings im Vergleich zum Wettbewerb eher auf dem Level höherer Ausstattungslinien und lässt entsprechend das eine oder andere im Vergleich vermissen. Ab Executive macht‘s dann mehr Spaß und Luxury ist eine Art All-in. Der XL-SUV aus Princeton/Indiana punktet also mit amerikanischer Größe, guter Ausstattung und einer im Hybrid-Vergleich respektablen Anhängelast von 2 Tonnen. Er ist allerdings auch kein Schnäppchen. Gebrauchte Toyotas haben momentan in der Tat einen Lauf. Mal schauen, ob der ambitionierte Neupreis sich entsprechend in der Zahlungsbereitschaft potenzieller Zweitbesitzer wiederspiegelt.

Newcomer Grafik März 2021

Launch Report: Volkswagen Caddy – improved engines and specifications

The Volkswagen (VW) Caddy has been redesigned from the ground up, with improved safety, space, engines, and advanced driver-assistance systems (ADAS). The fit and finish, digital cockpit, and general specification improvements make the model feel more like a VW passenger car. The driving dynamics are very good too, with outstanding roadholding and vehicle stability, as well as a good level of comfort.

Both the Caddy and the Caddy Maxi have grown in length and wheelbase, providing more cargo space. As the model is bigger, the maximum payload is slightly lower, but is the highest among key competitors. However, the loading volume of the Caddy is slightly below average, with the cargo space allowing for just one Euro pallet (only the long-wheelbase Maxi version accommodates two), while most competitors take two in standard form.

The new model hosts a comprehensive offer of assistance systems, including trailer-assist, which is a unique selling point in the segment. The modern interior and digital cockpit are advantageous for dual-use customers, i.e. drivers that use the vehicle for both commercial and private purposes.

The latest Euro 6 diesel engines benefit from huge emissions reductions and better fuel economy, supported by the new double SCR (selective catalytic-reduction) system. The 102-horsepower 2.0TDI has the lowest fuel consumption and CO2 emissions among its key rivals. There is not a fully-electric version of the new Caddy available, unlike small PSA Group and Renault vans. However, a plug-in hybrid (PHEV) version is planned for 2022. A compressed natural gas (CNG) version is already available in France, and will be available to order in Spain from December 2021.

The Caddy has a lower entry list price than its predecessor, but pricing is generally higher than those of other mainstream competitors. However, the fuel savings and reduced CO2 emissions will improve running costs and should entice new buyers. Furthermore, the development of working-from-home, and closures of non-essential retail, have led to an increase in home deliveries, benefiting demand for vans, and their residual values (RVs).

Click here or on the image below to read Autovista Group’s benchmarking of the VW Caddy in France, Germany, Spain and the UK. The interactive launch report presents new prices, forecast RVs and SWOT (strengths, weaknesses, opportunities and threats) analysis.

Launch Report: VW Caddy

Podcast: A brave new world – leasing, semiconductors, e-storage and recycling

Senior data journalist Neil King and Daily Brief journalist Tom Geggus discuss some of the biggest automotive news topics from the past fortnight. The pair consider leasing by Lidl, the semiconductors shortage, Shell’s electricity-storage system and battery-recycling initiatives.  

Show notes

Lidl supermarket chain offers car leasing online in Germany

Germany extends lockdown measures to 18 April

Semiconductor factory fire in Japan adds to global shortage

Europe sets sights on semiconductor production

Shell trials on-site, battery-powered, electricity-storage system

Reuse and recycle: a mantra for EV-battery manufacturing

Schwacke Insights März 2021 – monatliche Kennzahlen im Überblick

Die Februarzahlen offenbaren das aktuelle Dilemma. Zwar sind die Preise derzeit recht stabil mit leicht positiver Tendenz, aber aufgrund des Lockdowns ist auch wenig Bewegung im Bestand und die Standzeiten nehmen wieder zu. Insbesondere elektrifizierte Antriebe – abgesehen von Vollhybriden – setzen ihren Negativtrend in Prognose und Bewertung fort. Angesichts ungebremster Neuzulassungen auf GW-Kanäle wie Handel, Vermieter und Hersteller ist auch nicht mit kurzfristiger Besserung zu rechnen. Bei den Schnelldrehern tauchen nun in diesem Alterssegment erstmalig relevante Mengen Mercedes GLC Plug-In Hybride auf und finden offenbar schnell Abnehmer. Die 2017er Polo der sechsten Generation setzen sich als Diesel an die Spitze der Kurzsteher, was womöglich daran liegt, dass die immer noch aktuelle Generation seit Herbst 2020 neu nicht mehr als Selbstzünder angeboten wird.

Grafik Schwacke Insights März 2021

Video: Europe’s registrations struggle in February but improvements to come

Autovista Group Daily Brief editor Phil Curry discusses the registration figures from Europe’s big five automotive markets. While numbers may be down, the outlook for the whole year is more positive…

To get notifications for all the latest videos, you can subscribe for free to the Autovista Group Daily Brief YouTube channel.

Show notes

Lockdown drives German new-car registrations down by 19% in February

February UK new-car registrations plunge to level of 1959

Significant downturns in European registrations in February

Conditional reopening of German car showrooms

England’s car showrooms to remain closed until 12 April

Podcast: How is European automotive adapting to pandemic and climate-change fallout?

Daily Brief editor Phil Curry and journalist Tom Geggus discuss key activities and developments in the European automotive sector from the past fortnight. These include COVID-19’s effect on the uptake of mobility-as-a-service (MAAS), different fuel types, and autonomous technology.

Show notes

Cazoo buys Cluno as CaaS options increase

Significant downturns in European registrations in February

Lockdown drives German new-car registrations down by 19% in February

February UK new-car registrations plunge to level of 1959

VW accelerates towards electric and digital future

VW aims for commercialised autonomous systems in 2025

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E-fuels gain awareness as Mazda joins alliance

Video: How are touchscreens changing interior car design?

Autovista Group’s chief economist Dr Christof Engelskirchen and Sam Livingstone, director of automotive agency Car Design Research, discuss the rising trend of touchscreens in vehicle-interior design. Are they safe, and will the technology age as advancements progress?

Watch the first part of the two-part interview here where investment in the car industry is discussed: How can carmakers attract investment?

To get notifications for all the latest videos, you can subscribe for free to the Autovista Group Daily Brief YouTube channel.

How are new and used-car sales faring in Poland?

Dealers in Poland did not shut down during the pandemic last year. They adapted quite quickly to new forms of sales, such as remote and online selling. However, vehicle registration offices operated erratically and the climate of uncertainty negatively impacted sales. Marcin Kardas, head of editorial at Autovista Polska, considers the impact of the pandemic on the Polish automotive market and how it may fare in 2021.

During the pandemic in 2020, car factories around the world halted production, limiting the choice of vehicles to be stockpiled. The situation slowly began to ease just before the summer holidays. Manufacturing restarted, but demand was at a much lower level than the year before.

In Poland, it was important to keep fleets as the main player in terms of new vehicles. In an uncertain economic climate, various forms of lease contracts were massively extended and planned replacement of cars did not go ahead. This, in turn, resulted in the relatively high availability of stock cars, but interest in them was still below expectations, with the exception of the premium segment. Added to this was the prospect of a change in EU emission standards for new passenger cars from 1 January 2021.

Importers were trying at all costs to get rid of vehicles with the old Euro 6d-TEMP standard but the spectre of fines for failing to meet CO2 emission targets and the change to Euro 6d-engine technology has fuelled  a sharp rise in new-car prices, further reducing the attractiveness of the offer. In this context, the demand for premium cars is very apparent.

The price of new cars has risen sharply, further limiting their attractiveness. In this context demand for premium-brand cars continues. It seems that the difficult market situation may have even fuelled sales for this tier. It should be remembered, however, that for years the heavily-discounted prices of new cars in higher segments came close to the rising prices of those in lower segments. Additionally, the subsidies paid to entrepreneurs could be spent in part on the purchase of new vehicles.

’The automotive sector was not spared the hardships associated with the reality of a pandemic. Restrictions on international transport, factory shutdowns, sanitary regime requirements or even economic problems have had a significant impact on the market situation. Reductions in supply, fluctuations in demand and uncertainty among both sellers and buyers are just some of the phenomena observed, which have not been without effect on the level of vehicle values,’ noted Autovista Polska data analyst Mariusz Smoliński.

‘At the same time, emission restrictions were tightened, which translated into higher prices of new cars as well as an increased presence of hybrids and electric cars in importers‘ offers. Forecasting the situation in 2021 is extremely complicated, but undoubtedly the further course of the fight against the pandemic and its consequences will play a key role,’ he added.

In 2021, the situation should stabilise and prices should stop rising, but much will still depend on the pandemic and the effectiveness of vaccines. Sales in Poland should increase due to higher fleet-customer activity, although they will certainly not return to 2019 levels as of yet. It is also important to remember the ongoing shift to remote working. This removes the need for company cars or limits to vehicle mileage and periodic replacement. Manufacturers will face a difficult period of recovery from the crisis, combined with huge expenditure on the introduction of new technologies and electrification.

 Used cars surge as restrictions ease

The used-car market experienced a surge in 2020. The spring pandemic wave in Poland and Europe effectively blocked the sale of used cars, but once the restrictions were lifted, there was an unexpectedly large increase in demand.

Since mid-2020, there has been a real boom in Poland and it was only towards the end of the year that demand significantly calmed down. This was probably related to gradual market saturation, the holiday season and the spectre of further restrictions during the second wave of the pandemic. This was confirmed by a sharp slowdown in sales since November. The reasons for such a high interest in second-hand cars were many:

  • The desire to isolate and avoid public transport;
  • The lower financial risk in uncertain times;
  • The closure of factories, which created a problem with the availability of new vehicles; and
  • Very favourable fuel prices, which fell during the pandemic.

However, this does not fully explain the huge demand for the youngest used cars, namely cars that are one to three years old. These vehicles have not been particularly popular for several years, losing out to rental offers for new vehicles.

One explanation may be the increase in list prices, which has caused the gap between the value of second-hand vehicles and new vehicles on the domestic market. In Europe, demand for used cars has also risen sharply and Polish dealers have taken advantage of lower prices at home and started to export them in large numbers.

It should also be remembered that during the lockdowns in Europe, interstate borders were temporarily closed and quarantines imposed, which appear to have resulted in a reduced supply of second-hand cars – affecting mainly older vehicles and those of American origin. Either way, demand was so strong that by the end of 2020, the youngest cars were becoming scarce and their market values exceeded prices from early 2020.

Based on the Autovista Group COVID-19 tracker, the statistical increase in Poland amounted to 2.7%. The fastest effect was felt by the youngest cars, but at the moment the largest increases can be seen in vehicles five years old and older.

Poland price index by vehicle age for 12 months from 1 February 2020

Grafik Preisindex für Gebrauchtwagen nach Alter in Polen
Source: Residual Value Intelligence, Autovista Group

Confirmation of the good situation in the secondary market is also supported by the average time to sell used cars, which for the popular segments, has returned to the levels seen at the end of 2019. For premium cars it is even lower.

The continuation of the good run for used cars in 2021 will depend on the economic situation, the extent of unemployment and progress with pandemic mitigation. The return to work or the possibility of free movement, including in Europe, will determine purchasing behaviour. In Poland, we can expect to see an increase in the supply of used cars due to the postponed replacement of fleets in 2020 and the gradual removal of import barriers caused by lockdown.

King of the road – the future of the SUV

Andreas Geilenbrügge, head of valuations and insights at Schwacke, considers the rising demand for SUVs and the implications for residual values.

There is something mystical about the design of sports-utility vehicles (SUVs). Initially, the American combination of ‘sports’ (on the other side of the Atlantic, the generic term for all sporting activities) and ‘utility’ (utility vehicles) was intended to demonstrate a chic combination of leisure activity and utility value. The idea was to set themselves apart from the purely utility-oriented rustic charm of off-road vehicles. In the meantime, it has become an increasingly used term worldwide, which ultimately seems to mean only one thing for sure: higher ground clearance.

For some, SUVs stand for unnecessary size and weight – an environmental sin. For others, they are the holy grail in terms of status symbols, with comfortable entry and an increased feeling of safety. Today, more than half of all German SUV customers do without four-wheel drive, which used to be the norm for almost 90%, leaving most models with only their visual outdoor appearance. Some models, not only in the small segments, are even offered exclusively with only one driven axle. Ultimately, SUVs have steadily taken more market share from their siblings in classic body styles, and there is no end in sight.

One for all

Since the beginning, the attractiveness of SUVs has been reflected in higher residual values (RVs), both in absolute and relative terms, compared to their siblings. This is despite the fact that registrations have doubled in Germany since 2012, and even quadrupled compared to 2007. Following the current trend of SUV coupés – still four-door models despite the extended name – premium manufacturers are now waiting in the wings to add small-car crossovers to their ranges in the future. The question that legitimately arises is how long this can continue in a volume-driven and saturated used-car market. So, what can be expected with steadily growing volumes in terms of the high RVs?

A reassuring answer in advance: nothing will change any time soon concerning the advantageous sales prices and rising volumes of SUVs. However, RVs of the high-riding vehicles, which have been so accustomed to success, have not been stable for a while now. They are enduring crises and downturns like the rest of the market (Figure 1).

Figure 1: RVs by segment, Germany, 36months/60,000km, January 2016 to February 2021

Wohnmobile nach Segmenten, Deutschland, 36Monate/60.000km, Januar 2016 bis Februar 2021

Source: Residual Value Intelligence, Autovista Group, volume-weighted values

An important influencing factor here, besides the increased volumes of SUVs, is the competition among themselves. According to IHS Markit, there were around 70 models on offer in 2010, with an average of 4,700 registrations per model. By 2019, this had risen to nearly 130 models, with almost 10,000 registrations per model. However, the new-car market is starting to tilt. Additional market entries are increasingly creating a distribution struggle. Average registrations per model are declining significantly, and the share of models with less than 2,000 units per year is forecast to rise from 14% in 2010 to 44% in 2027 (Figure 2).

Figure 2: New SUV registrations and forecast, Germany, 2010 to 2027

SUV-Neuzulassungen und Prognose, Deutschland, 2010 bis 2027

Source: IHS Markit

Future outlook: bright to cloudy

The time horizon is still relatively far in the distance, especially since the second-hand market is always a few years behind. Nevertheless, it is worth preparing for. In times of growing competition, differentiation is key. Optics and brand-image cultivation are certainly important instruments, and electrification is an additional playing field.

However, as a used car, equipment geared to future needs can contribute to value retention and differentiation from the competition. First and foremost, in order not to fall into a fight for the lowest price and follow a downward spiral. After all, the cake will be big enough, just the individual slices need to be filling and tasty.

The original article can be found in German on the Schwacke website here.

The remarketing risk of EVs

The remarketing of electrically-chargeable vehicles (EVs) is examined by Autovista Group experts in our latest webinar. The mixed approach across Europe to provide stimuli for EV sales is paying off, with forecasters predicting a 40% market share for the technology by 2030. Does the increase in registrations trigger new remarketing risks? The panel considers whether the increasing sales of EVs will impact RV performance over the next three years. It also looks at potential differences in risk between BEV and plug-in hybrids (PHEVs).

You can view the entire webinar below, or download the slide deck here.

Autovista Group will be running a number of webinars looking at automotive trends this year. To be notified of upcoming events, subscribe to the Autovista Group Daily Brief.

Monthly Market Dashboard: Lockdowns impact RVs and stock days in February

Autovista Group’s interactive monthly market dashboard (MMD) reveals that residual-value and stock-day developments are being adversely affected by the ongoing lockdown restrictions in Germany and the UK in February. Senior data journalist Neil King explores the analytics.

This month’s MMD reveals that the average residual values (RV) of cars aged 36 months and with 60,000km were higher in all the Big 5 European markets in February than a year earlier. However, values were lower than reported for Italy and the UK in January.

RV retention, represented as a percentage, declined month on month in Italy and the UK too, along with Germany. The largest decline in RV-percentage (RV%) terms was in the UK, where the average was 46%, equating to a 3.8% change compared to January. The country remains in lockdown, with restrictions on dealer activity in England extended to 12 April.

Similarly, German dealerships remain closed until 7 March. The month-on-month downturn in RV retention in February was only minimal, but Germany is the only major European market where the RV% was lower in February 2021 than in February 2020, albeit by only 0.4%.

Monatsupdate Februar 2021

Rising stock days in Germany and UK

In addition to the pressure on RVs, three-year-old cars are selling more slowly than a month ago in Germany and the UK as the closure of dealerships (except for online ‘click-and-collect’ sales and servicing/repairs) hinder transactions. The average number of stock days rose by 9%, to 55 days, in Germany and by 14%, also to 55 days, in the UK over the last month.

Compared to February 2020, three-year-old cars are moving on more slowly in France, Spain and the UK. The latter is suffering the greatest slowdown in the average number of days for 36-month-old cars to sell, up 35%. In contrast, cars are still selling quicker than a year ago in Germany as stock days dramatically reduced from July 2020 until the end of the year, before rising since.

The fastest-selling cars in the major European markets in February 2021 are in Italy. The Volvo XC60, BMW X1 and Kia Sportage are all taking fewer than 30days to find a new home.

RV-outlook adjustments

The new MMD also features the latest Autovista Group RV outlook. A downward trend is forecast in 2021, with prices of used cars in the 36 months/60,000km scenario declining in all the Big 5 European markets. In the February update, the RV outlook was improved slightly for Italy, but values are still forecast to decline by 3.1% in 2021. Used-car prices are forecast to decline by 0.4% in France, 0.7% in Germany, 1.1% in Spain and 1.4% in the UK in 2021.

In Germany, the outlook has improved slightly for 2022, with the RV decline limited to 0.2%, but Spain’s growth outlook has been downgraded from stability to a contraction of 0.5%. For 2023, the RV outlook has been revised subtly downwards in both Germany and Spain. RVs are still forecast to rise in all markets except Germany however, albeit only minimally.

Click here or on the screenshot above to view the monthly market dashboard for February 2021.

Podcast: How does electric impact residual values and used-car strategies?

The Autovista Group Daily Brief team takes a look at some of the biggest automotive trends of the past fortnight. Phil Curry, Neil King and Tom Geggus discuss electrically-chargeable vehicle residual values, electromobility strategies and modular electric platforms.

Show notes

Surging demand for new BEVs mounts pressure on residual values

France invests €100 million in EV-charging infrastructure

Call for one million public EV chargers in the EU by 2024

Ford to be zero-emission capable in Europe by 2026

Jaguar makes BEV and hydrogen changes on path to net zero

REE maps out UK engineering centre

Shell to transform into net-zero energy provider by 2050

Video: How can carmakers attract investment?

Autovista Group chief economist Dr Christof Engelskirchen and director of automotive agency Car Design Research, Sam Livingstone, discuss how investors value car-producing technology companies above traditional OEMs. As more new entrants come into the automotive industry, what options do traditional players have to engage and attract investment?

To get notifications for all the latest videos, you can subscribe for free to the Autovista Group Daily Brief YouTube channel.

Schwacke Insights Februar 2021 – monatliche Kennzahlen im Überblick

Der Jahresauftakt wurde durch den Lockdown gründlich verhagelt. Zwar sind die Inseratslöschungen leicht gegenüber dem Vormonat gestiegen, aber dies hat technische Gründe. Die verkauften Mengen sind deutlich unter Vormonat und -jahr. Die Prognose folgt dem stetigen Abfall des Bewertungsniveaus und zeigt besonders für Elektrifizierte weiter hohen Druck. Unterdessen zeigen die Bewertungen von Benziner und Diesel leicht positive Tendenz, was die Prognose stabilisieren wird. Die Standzeiten wuchsen durch geschlossene Betriebe weiter an und lassen die Schere zwischen Elektrisch und Verbrenner weit offen. Bei den Schnelldrehern wird sichtbar, dass gebrauchte dreijährige Diesel in der Pandemie teils zur Mangelware wurden und entsprechend zügig Absatz finden. Der Handel hofft nun auf ein baldiges Lockdown-Ende, stehen doch die so wichtigen GW-Monate März bis Mai bevor!

 

Insights Februar 2021 Restwertdaten in Grafiken

Video: Do January’s European car registrations point to a recovery?

Autovista Group Daily Brief editor Phil Curry discusses the latest registration figures in Europe’s biggest automotive markets. Are there indications of improvement on last year’s performance?

To get notifications for all the latest videos, you can subscribe for free to the Autovista Group Daily Brief YouTube channel.

Show notes

Deceptively shaky start to 2021 new-car registrations across Europe

Germany: new-car registrations down 31% in January 

UK new-car market suffers ‘worst start to the year since 1970’

EU new-car registrations suffer biggest fall since May 2020

Autovista Group senior data journalist Neil King explores the January 2021 new-car registration figures released by the European Automobile Manufacturers’ Association (ACEA). Two fewer working days, compounded by lockdowns and taxation changes in some markets, depressed the regional result. However, the mitigating circumstances and positive results in other countries give reason for cautious optimism.

New-car registrations in the EU declined 24% year-on-year in January. Volumes fell below 730,000 units, down from over 950,000 registrations in January 2020. This was the severest monthly decline in the market since May 2020, when the market contracted by more than a half as the first wave of COVID-19 lockdown measures were only starting to ease across Europe.

EU new-car registrations, year-on-year % change, January 2020 to January 2021

EU-Neuzulassungen, Veränderung gegenüber dem Vorjahr in %, Januar 2020 bis Januar 2021

Source: ACEA

The severe EU-wide downturn in January was expected given the double-digit year-on-year declines in Italy and Spain, as well as in Germany.

With just 41,966 new cars registered during the month, Spain endured a dramatic market contraction of 51.5% compared to January 2020. However, adjusted for the two fewer working days, the year-on-year decline was about 43%. Storm Filomena also affected registrations activity. Furthermore, the December figures were buoyed by consumers taking advantage of the RENOVE scrappage scheme before it ended on 31 December. Similarly, the increase in vehicle registration taxes from 1 January brought demand forward into the tail end of 2020. Autovista Group estimates that about 10,000 registrations were lost last month as a result.

New-car registrations fell by 31.1% in Germany during January compared with the same month in 2020. This aligns with the Autovista Group expectation of a return to year-on-year declines of about 30% in countries where dealers were closed for physical sales. Restrictions were originally in place until 14 February, but were subsequently extended to 7 March.

The German market was also hampered by the return to a 19% VAT rate since 1 January 2021, which had been reduced to 16% from 1 July to 31 December 2020. Autovista Group estimates that this change advanced about 40,000 new-car registrations into December 2020, when the market rose 9.9% compared to the previous reporting period. Furthermore, the shortage of semiconductors will have invariably disrupted some new-car deliveries in the country.

Lockdown measures also adversely affected dealer activity in other European markets last month. Consequently, new-car registrations declined by more than 20% year on year in Austria, the Netherlands and Portugal.

Cautious optimism

In Italy, the year-on-year downturn in January was 14%. This was the fourth consecutive monthly decline in the country following growth in September due to the government scrappage incentives that came into effect at the beginning of August as part of the Decreto Rilancio (Relaunch Decree). These have been exhausted, but the negative effects are being counterbalanced by new purchase incentives to renew the Italian vehicle fleet with less polluting and safer cars, introduced on 1 January. Adjusted for working days, the market only declined by about 6% in the month.

New-car registrations were 5.8% lower in France in January 2021 than in the same month of 2020, according to the latest data released by the CCFA, the French automotive industry association. This is a significant improvement on the 27% contraction in November, when dealers were closed for most of the month, and the 11.8% year-on-year downturn in December. Moreover, there were two fewer working days in January 2021 than in January last year and, adjusted for working days, the CCFA calculates that registrations actually rose by 3.6% in the month.

All EU new-car markets contracted last month, with the exception of Sweden, which posted year-on-year growth of 22.5%. When adjusted for working days, however, Autovista Group estimates that the EU-wide downturn in January was 16%. The adjusted modest decline in Italy and growth in France especially give grounds for cautious optimism in 2021.

The fallout from COVID-19 is expected to continue to affect vehicle markets across the continent during the first quarter of 2021. However, as vaccination programmes progress and restrictions gradually ease as a result – hopefully never to return – registrations should pick up in the second half of the year.

The European Union’s new-vehicle registration recovery will begin this year with an increase of 10% compared to 2020, according to a forecast from ACEA. A 10% increase equates to 10.9 million new cars on EU roads this year, higher than the 9.9 million registered in 2020. Nevertheless, that is still 16% down on 2019, the last full year of non-COVID-19 impacted sales.

Manufacturer performance

All the leading European carmakers registered fewer new cars in the EU in January 2021 than in January 2020, except for Volvo. The Swedish manufacturer registered 9.4% more new cars than a year earlier, buoyed by the growth at home.

Mitsubishi and Honda suffered the greatest losses in the month, with registrations down by 63% and 50% respectively year on year. The BMW and Daimler groups both suffered modest declines of 14% in the month, ahead of Toyota, which was the strongest performer in 2020.

Across Europe, Autovista Group expects manufacturers with a strong electrified portfolio will perform comparatively well in 2021 as consumers are less likely to be tempted by used examples. This is because they tend to be less price-sensitive buyers, but there is also limited availability of the latest hybrid and electric models on the used-car market.

Autovista Group has outlined its key predictions for the year ahead, focusing on new-car registrations, used-car demand and residual values, and tech advances.

Launch Report: Hyundai Tucson – bolder and roomier

The new Hyundai Tucson has an assertive and bold design, with its front face combining the headlights and grille. The 3D rear-light signature echoes the progressive triangular headlight design and two-tone colour personalisation is now possible. As the new Tucson is longer and wider, it is roomier and more practical than its predecessor and has a large boot.

The modern and refined digital cockpit, featuring a flush-fitting 10-inch screen, is standard across the range and there is also a digital TFT screen directly in front of the driver. The materials, trim and build quality are all good and there are numerous ADAS and safety features, including a central airbag between the two front seats. A neat touch is the blind-spot monitoring system, which shows a digital feed from the left or right side of the car, depending on which direction is indicated.

The Tucson is offered with mild-hybrid (MHEV) petrol and diesel engines or as a full hybrid-electric vehicle (HEV), and a plug-in hybrid (PHEV) version will be available too. The trim lines are well composed and there are relatively few options, leading to well-equipped used cars.

With the leap forward in quality and roominess compared to its predecessor, the Tucson has the potential to attract a wider selection of consumers. The HEV version may present an attractive business proposition for buyers who are not yet ready to plug in.

Click here or on the image below to read Autovista Group’s benchmarking of the Hyundai Tucson in France, Germany and the UK. The interactive launch report presents new prices, forecast residual values and SWOT (strengths, weaknesses, opportunities and threats) analysis.

Launch Report: Hyundai Tucson