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New kid on the block
Page 67
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Does a new model knock residuals for its predecessors?
Manufacturers launching new and superior products are giving the outgoing models better residual prices, according to the independent benchmark guide CAP.
Senior Red Book editor David Hill says a replacement vehicle might be expected to reduce interest in an outgoing model, hitting its value on the open market.
But he highlights the performance of the Escort van following the introduction of the Transit Connect as a vehicle enjoying a new lease of life with residuals to match: "As a new van the Transit Connect was expensive for many and those who were always comfortable with a Ford badge therefore found themselves revisiting the Escort as an option."
The popularity of the Escort van and its subsequent high sales had previously hit its residuals. "Last year's introduction of Transit Connect therefore worried some in the trade that Escort values would be further weakened in the shadow of a slightly larger, better engineered alternative," says Hill.
"But in the event, the introduction of Connect actually led to a stabilisation of Escort values," he adds. "Following a period of steady falls, prices rallied for a time, effectively giving the van a new lease of life."
Ford was able to enhance residuals in the Escort's final incarnation by improving specification with the introduction of power steering and an airbag.