CAP Monitor hails Skoda Rapid as a clever move ‘back-to-the-future’
NOVEMBER 19 2012 – FOR IMMEDIATE RELEASE
SKODA’S bid for a slice of the traditional mid-size family car segment, by launching the new Rapid, has been applauded by CAP, the independent experts on current and future car values.
According to CAP the launch of the Rapid also represents a clever tactical move by Skoda to exploit a growing appetite for basic, well-engineered value for money cars which will appeal to families and company car drivers alike.
CAP believes Skoda has stolen a march on its European rivals by looking away from the small/medium people carrier style and focusing instead on a more traditional car design.
The Rapid has been launched with just three models in the range – a tactic that CAP believes will work well in the future used market by reducing the chances of trade confusion that often besets other manufacturers with more complex ranges. This problem can often cause greater depreciation as trade buyers bid with greater caution than they otherwise might.
CAP Monitor Editor, Jeff Knight, said: “At first glance the Skoda Rapid is a car that simply does a basic job well, at a value for money price, but that interpretation misses the key point.
“By departing from the pack and staying away from the typical small people carrier design that has become the norm in recent years, Skoda has created a car whose time is now.
“While everyone else seems to be constantly trying to re-invent the wheel and create brand new niche markets to stimulate consumer interest, Skoda has slipped in with something we believe many people will want, both as a new and a used car.
“It’s a clever tactical move, in our view, to create a vehicle that probably won’t set the pundits’ hearts racing but will appeal directly to cost-conscious families and company car drivers looking to keep their P11D tax payments as low as possible.
“Making a smaller family vehicle that starts under £13,000 without taking the well-tested MPV route is a genuine back-to-the-future move by Skoda and a very interesting tactic.”
Knight expects the Rapid to compete strongly not only with the rest of the C sector small family car bracket but also steal sales of more premium vehicles in the late plate (nearly new) used car market.
He said: “These are tougher times for motorists than we have seen for many years and we believe many car buyers are suffering what we call ‘innovation fatigue’. Cars are loaded with gadgetry and features in what has become a kind of specification arms race. In many cases, people simply don’t need everything available to them in the modern vehicle.
“Suddenly Skoda has revealed a car that makes no attempt to fight on that battleground and also cleverly provides a real challenge to the emerging far eastern brands that have stolen so much of the market from the European manufacturers in recent years.
“And by having a simple line-up of S, SE and Elegance, any future caution about model identification in the trade will be averted.”
Future residual values for the Skoda Rapid are forecast between 31% and 33% of cost new, after 3yrs/60,000 miles, depending on the specific model – a figure that compares well with its competitors.
For further information contact Mike Hind, Communications Manager - CAP
Tel: 0113 222 2044 / 07710 152030
Twitter - @MikeH_CAP
Used car pricing and technical information from CAP has been trusted by motor trade professionals for more than 30 years. The company provides trusted and accurate pricing and technical information on cars, vans, motorcycles and trucks to the UK automotive industry every day. Founded in 1979 and based in Leeds (UK), CAP’s data and information systems serve clients across a broad variety of automotive-related sectors. CAP’s current used car values are used as the benchmark for residual values performance across the disposals industry and CAP Monitor is the leading residual values forecasting tool for the Contract Hire, Leasing, Daily Rental, Finance and Insurance industries. CAP’s new vehicle data system serves a broad variety of e-commerce, DMS, showrooms and asset management systems throughout the Retail, Contract Hire, Leasing, Finance and e-commerce sectors. CAP information also operates at the heart of many leading vehicle marketing websites and car sales portals, including Britain’s largest – AutoTrader – helping consumers safely make the best informed decisions about their purchase choices.
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