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Still a strong market for Foden
Page 73
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FODEN'S EXPECTED demise next year has not yet affected used prices, says Richard Barnes, salesman at Foden dealership Birmingham Truck Centre. Nor has demand for used examples dried up: "We had an eight-wheel tipper come in the other day, and it sold immediately. Remember that 90% of people who buy second-hand Fodens arc existing Foden operators, and they will keep buying them for as long as they can get them.
"Remember too that parts and service support will be available from dealers for at least the next 10 years," he adds. "It will also be available through companies like Cummins, Caterpillar, a Wabco and so on.
Nor is Foden driving down prices of used examples by slashing the prices of new vehicles just to dispose of thcm."We can't buy the new ones any cheaper than we could six months ago," Barnes reports.
While he will clearly regret the passing of Foden, Birmingham Truck Centre isn't completely dependent on the manufacturer, It has an extensive used truck business, is a Daf parts and service dealer and sells Avias too.
"What's happening is bound to have an impact on residuals,and customers are concerned," says Mike Curtis, used truck sales manager at Daf dealership Watts Gloucester, which also Watts represents Foden. "But Foden makes a good product,and we'll certainly be around for the 10 ten years to provide back-up." About the worst thing an operator with a Foden could do is panic and try to get rid of it, according to independent dealer, Martin Rhodes.
"If you've got a three to four-year-old Foden tractor unit you'll lose too much money if you try to sell it now," he says. 'You'll be better off running it until it's six or seven years old, selling it to somebody who wants the parts — there's always a market for Caterpillar and Cummins components — and buying a De..
Remember that there's no established export market for used Fodens.
Rhodes has some experience of exporting: "When I was at Renault I was responsible for the first exports of Premiums to Malaysia as well as creating the Choice approved used trucks programme."