LandCruisers are 'better than money in the bank' in the hot second-hand market, appraisers say. But the European badge is in the dump
Demand for some sectors of the used vehicle market has “fallen off a cliff”, according to a leading assessor, while demand for needs-based vehicles from “bubble hatches” to workhorse LandCruiser Toyota remains hot. Key points: A vehicle auctioneer says practicality, not status, now drives buying decisions The golden age of ag contributed to a huge demand for farm equipment and tools, along with an instant asset write-off of $150,000 LandCruiser in particular demands more used than new The COVID-19 production and delivery delays have created unprecedented demand in the used vehicle market. But auctioneer and appraiser Simon Cotter said with rising interest rates there is now a duality in the vehicle market, with demand for luxury vehicles falling while workhorse and budget options continue to sell at or even above retail prices. Our sale last week was the first sale since the COVID outbreak where, with certain products, the lack of interest was very noticeable on the auction floor, he s