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Yeti 2017 2.0TDi 4x4 L&K DSG
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Discussion Starter · #1 ·
Looks like used prices are still increasing.

Last year I bought a 3 year old 2017 L&K with 18k miles for £16k which was around the same price as they were a year before when it was 2 years old. Skoda Main dealer

Now a year older so 4 years old the prices are still rising. A 2017 L&K for £17.5k and an SE for £17k.

5472
 

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There is nothing quite like a Yeti available so used ones are the only option. I may have bought a fourth if it was still made now, but went for a Karoq instead which although a really good car, just doesn't have any character to me.(New ones in 2010, 2014 and 2017)
 

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Discussion Starter · #4 ·
They do say that Skoda's depreciate slower than most, but actually going up in value without being a true classic is not the norm.
To be fair Yeti's are riding the wave of stronger 2nd hand prices during the pandemic and the strongest sector is the small SUV.
 

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Yeti Outdoor 2017 SE L 2.0TDi 150 4x4 Manual
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They do say that Skoda's depreciate slower than most, but actually going up in value without being a true classic is not the norm.
We live in "interesting" times though. (As Confucius said). Most second hand car values have increased during 2020. Combination of reduced supply at the top end coming into the market, as people have been unable to buy so many new cars (new sales down by a massive 60%), so fewer trade-ins. Coupled with increased demand from lots of people needing a more covid-secure transportation box than is available from any kind of public transport. Only the "lemons" have fallen. There's never been a better time to be a used car dealer - provided you can source enough cars to sell of course. :rolleyes: While prices and margins per vehicle may have improved, supply has fallen, so overall turnover not quite so increased.

Yetis have appreciated more than most though. Ours has roughly doubled its value over the year, with a mere 11,000 additional miles added. Even my 330d BMW has increased, while sitting under a car cover on the drive, SORNed, with two busted springs. (Still gets a fortnightly 30-minute engine run up though, with air-con on full and moved a few feet forward and back. All the windows exercised a few times, etc.). It's next up to begin its re-commissioning process. Probably soon after Easter.

My dilemma was that while the value of our Yeti has increased. The price of a potential, younger Yeti replacement has increased even more. So as its job requirements have not changed, and it still fulfils those admirably, it will now remain in the fleet a while longer. Planning a replacement DMF for it in the summer. new pads yesterday. Polytrol on its black bits this afternoon. If its lucky, it may even get a wax at some point? :)

It will be interesting to follow if the market falls back again as we head into 2022, before rising again as the supply of new ICE cars falls towards the 2030. So pushing up the demand for used ICE cars?
 

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Discussion Starter · #6 ·
It will be interesting to follow if the market falls back again as we head into 2022, before rising again as the supply of new ICE cars falls towards the 2030. So pushing up the demand for used ICE cars?
It will be interesting from several view points.

I spend lots of time on caravaning forums and the towcar section has lots of threads about the move to hybrid and EV. There will be a lot of people holding onto their cars a while longer.

Yeti 2.0TDi150 4x4 has a towing limit of 2100kg. The new Enyaq and ID4 just 1000kg.

Manufacturers are struggling with battery cooling for towing high loads and the range plummets. How many charging points can you pull into with a trailer?

Vag have said they will not bring any new petrol or diesel engines to the market, the current models will be tweaked to meat EU7 and that's it. So a Yeti with EA288 will have the last ever diesel engine designed by VAG.
 

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Ha, take to a Skoda garage and i bet they would say that model/diesel/whatever not selling at present and offer you low price px, and yet you will see high prices on forecourt.
And i know they have to make profit somewhere, but come on lets have a half decent price otherwise we will not be coming back.
 

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Yeti Outdoor 2017 SE L 2.0TDi 150 4x4 Manual
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I had seen a thriving black market developing post-2030. For right hand drive ICE cars made for the Irish market, finding themselves over the border in NI. Registered on an NI plate. Then “exported” to mainland GB. (A bit like the unofficial red diesel trade). Particularly for cars capable of towing averaged size trailers. However, the Irish government appear to have seen that too. In January they plugged the gap by aligning with the UK on EV only sales from 2030. Hybrids till 2035.
 

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Discussion Starter · #9 ·
Another increase in prices?

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According to an article in yesterday's Sunday Times (I'm not normally a reader of any Murdoch rag, but have seen this repeated elsewhere):

"Used car prices are going only one way, and there is no sign of any reverse gear. The average price of a second hand car was up a record 9.7% in June alone, compared to June last year. It was the 57th consecutive week when prices went up, according to the sales website AutoTrader.

Cars are also selling quicker. It takes an average of 23 days for a second hand car to leave forecourts, down from 28 days in June 2019.

Carmakers have suffered a huge drop in production because of the shortage of semiconductors and other supply chain issues. The number of vehicles being produced is 53% lower than it was a year ago and so more drivers are looking to the second-hand market.
"

The reduction in new car output has been prolonged for over a year now. Further reducing the supply of trade-ins coming into the top of the used market. Add that reduced supply to the still high demand for cars as a covid-secure alternative to public transport and more people needing to return to office based work places as covid "freedoms" kick in, then you have all the reasons you need for what is driving the prices rises.

This is all Good News from an environmental and climate change perspective.(y) At around 7-8 tonnes of CO2 to build a new medium-sized ICE car, or 12-16 tonnes CO2 for a similar sized BEV, then continuing to run older, lower CO2, fuel-efficient, ICE cars producing 1-2 tonnes of CO2 per year at typical annual mileages has to be reducing global CO2 output quite significantly.
 

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My local dealer contacted me offering to buy my Yeti because their latest stratt was to increase 2nd hand stock and skoda's cash
 

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Discussion Starter · #13 ·
I have an offer of £15k from Webuyanycar and £16k from Skoda against anything they have on the forecourt.
 

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From Skoda? Or from a dealer?
(I’m confused. As not aware of Skoda UK importer either selling or buying any used cars directly to the public? Unless this is something Skoda have suddenly started doing?)
 

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Discussion Starter · #15 ·
From Skoda? Or from a dealer?
(I’m confused. As not aware of Skoda UK importer either selling or buying any used cars? Unless this is something Skoda have suddenly started doing?)
Same dealer that has the £20k one above. The offer may increase depending what I'm looking at. But don't really fancy anything else.
 

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Same dealer that has the £20k one above. The offer may increase depending what I'm looking at. But don't really fancy anything else.
That resolves the confusion, thanks. (y)
A specific dealer's used car pricing policy then. Nothing to do with "Skoda" at all in practice. :) They are too busy trying to source enough computer chips to build new cars for their franchised dealers to sell.

As far as I know (till proved wrong), Tesla are the only manufacturer currently selling cars (new or used) directly to end-customers in UK, rather than via a franchised dealer? Daewoo tried it a few years ago, but that didn't end well for them. They went bust in 2000. General Motors bought the ashes (production plants in Korea) in 2002. Then went bust themselves in 2008-9. I just wondered if Skoda had started down a similar track, that I hadn't heard about? Thanks for clearing that up.
 

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My local dealer contacted me offering to buy my Yeti because their latest stratt was to increase 2nd hand stock and skoda's cash
Same applies as #16. The proceeds from used car sales are 100% the dealer's from what I know? Skoda UK don't get a penny? Other than sale of parts in Skoda branded boxes used for servicing, etc. Strong used sales values tend to fend off any propensity to discount new car prices, but that is more common in times of over-supply.
 

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Here is a cut/paste from the email I received

Dear ***


Want to know how much your car is worth?

We’re expanding our used vehicle stock and could offer you a great cash price for your old one.

You will receive a competitive valuation free of charge for your vehicle and your payment will go straight into your bank account, hassle-free. Our Team can also settle any finance provided you have a settlement letter from your finance provider. No admin fees apply.

Contact your local Lookers ŠKODA dealership for a valuation or message us to book an appointment.
 

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Discussion Starter · #19 ·
Nothing to do with "Skoda" at all in practice. :)
I doubt it's as clear cut as no involvement from Skoda UK and just down to the dealers themselves when it comes to trade-ins. Yes the dealer will set the price but there are other factors that determine the price.

Skoda UK still have the "Approved Used" scheme and offer incentives like two year warranty, service packs and cheap finance.

And of course the advertising through the official Skoda website.

What cash flows between the dealer and Skoda for used sales either way I couldn't say. Or indeed what Skoda restrict them to sell directly on a dealership forecourt.

My local dealer now has a second outlet site for certain trade-ins that Skoda do not allow them to sell at the main dealership.
 

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Yep. Although correct that Lookers have some Skoda franchise sites in their chain. Still Lookers that are implementing the policy of trying to increase their used car throughput, to maintain turnover while they can't get hold of as many new cars from Skoda as they would like to sell. And Lookers who are pocketing the used car sales proceeds, not Skoda.

It's a common misconception that car dealerships are owned by the branded car manufacturer. Helped by the manufacturer branding, name and signage, even colour scheme of showroom,etc. all being dictated by the manufacturer under the terms of the franchise that each dealership holds. The dealers however remain separately owned and run businesses. Quite distinct from the manufacturer. Hence why they occasionally swap franchises to a different manufacturer but still carry on as the same dealer business on the same site(s). A very small exception is that Stellantis, through their Peugeot division, own a couple of dealership businesses. Robins and Day in Coventry and Walchry Motors in Surrey. Themselves a legacy of Peugeot's acquisition of the old Rootes Group / Talbot / Chrysler businesses. But those are still run as separate businesses, at arms length from the manufacturing business. In order to keep the other Peugeot dealers on-board.

Incidentally, as evidence that Lookers are not the same as Skoda, Lookers claim to sell cars from 32 different car manufacturers and list 23 of those whose franchises they hold, on their web site. From Dacia to Aston Martin.

While Lookers themselves are a separately quoted business on the London Stock Exchange. Themselves with shareholders who include:
"Peter Jones is the largest shareholder with 11% of shares outstanding. With 8.2% and 7.9% of the shares outstanding respectively, Artemis Investment Management LLP and J O Hambro Capital Management Limited are the second and third largest shareholders." Peter Jones being better known perhaps as the longest standing (and tallest :D) member of the Dragons Den entrepreneur panel.
 
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