Hard top convertibles buck the new car price increase trend but 4x4s keep on rising , reveals CAP

THE COST of a brand new coupe cabriolet fell by an average of almost £1,000 over the past year, according to CAP, the car price experts. But the average new price of a 4x4 rose by more than £1,800 over the same period. The figures are revealed by analysis of CAP’s database of new vehicle prices and technical data, the most comprehensive source of new vehicle information in Britain. The average cost of a new coupe cabriolet – a convertible with a metal folding roof – in January 2011 was £21,999 compared to an average of £22,941 a year before. The average new price of a 4x4, however, rose over the period from £31,634 to £33,459. CAP New Vehicle Data Manager, David Saville, said: “Coupe cabriolets have been reducing in price while list prices across the rest of the market have typically risen. “Underlying the change in average coupe cabriolet prices is 33 models and variants, with an average price of £23,893, dropping out of the list of new cars available and being replaced by 23 entrants priced at an average of £22,393. “It is no coincidence that coupe cabriolets have been losing value in the used market over the past year and this will also be influencing manufacturer policy on new prices. When used values are falling the gap between brand new and nearly new can only be reduced by cutting new prices. “These cars are now a victim of their own success. The growing popularity in recent years of coupe cabriolets such as the Focus CC, Astra Twin Top and Peugeot 308CC has made them a much more common sight on our roads and on the forecourt. Therefore the balance of supply and demand has changed and the sector has become much more of a buyers’ market. “Manufacturers have therefore been forced to price their new variants into this sector more competitively and the average reduction in new prices is a result of that.” In contrast, the 4x4 sector has seen the introduction of 311 new variants, with an average new price of £34,166, while 252 with an average list price of £30,987 have been dropped. David Saville said: “There is a belief among manufacturers that the resurrection of demand for 4x4’s over the past couple of years means the market will bear higher list prices. “Indeed CAP knows of one manufacturer who has felt such strong global demand for their off-road product that it has now resulted in a shortage of new car stock for the UK market. And the laws of supply and demand suggest that prices rise in the face of stock shortages.”