PRESS RELEASE

29^THJANUARY 2016

Demand for late plate Defenders rises as production ends

Nostalgia driving up prices as iconic Land Rover comes to the end of the road, say Glass's

Demand for late-plate Land Rover Defenders in on the rise at auction, reports Glass's, as the iconic 4x4 finally ceases production after almost 70 years.

Low mileage examples are being snapped up by dealers keen to fulfil a burst of consumer interest in the model as it comes to the end of the road, says the motor trade bible.

Jayson Whittington, manager of commercial vehicle valuations, said that Defenders tended to perform well at auction due to low supply but that there had been a noticeable increase in interest in recent months.

"While production is only now ceasing, order books for new Defenders have been closed for some months and there has been a noticeable increase in demand for used units at auction, with dealers actively seeking out late plated, low mileage examples to fulfil what appears to be growing retail demand.

"It may be that this increased interest is probably, in part, being driven by a nostalgic urge to own one of the final generation of this much loved icon."

Jayson urged caution, however, for those who may be thinking of buying a Defender as a potential investment.

"Our view is that, while it is not inconceivable that values could rise a little further in the future, we are many, many years away from any investment of this kind paying worthwhile dividends.

"People who want to buy a Defender should do so for the same reasons as they have been doing for decades - that it is an incredibly well-proven and capable 4x4 that will keep going in the toughest of conditions."

He added that, generally, values would remain heavily dependent on condition and mileage, with units showing clear evidence of having been used commercially - particularly those previously owned by utility companies - not living up to price expectations.

"Because the Defender has hardly changed over the years, it is a vehicle whose value is as much dependent on condition and service history as on age."

About Glass's

Glass's is the largest vehicle data provider in Europe, offering products and solutions that are invaluable at every stage of a vehicle's lifecycle. These include key valuation, technical and fleet management data, estimating, bodyshop and dealer management systems and web-based services. Founded in 1933 by William Glass, the first Glass's Guide to Car Values - widely referred to as the used car dealer's bible - was published in July of that year.

For further details:

• Sanjay Mistry, Paperchase PR, 07810 368 772, sanjay@paperchasepr.co.uk

• Simon Wells, Paperchase PR, 07768 912 430, simon@paperchasepr.co.uk

ends