Dealers also have to factor in the 'warranty' aspect - if a gearbox dies a month after sale, they have an obligation to fix so have to factor in a 'worse case' scenario.
I think Morgans traditionally attracted classic car enthusiasts, and they got older they bought newer Morgans that perhaps required less tinkering and fettling. As this cohort get even older, they are having to ditch their vehicles for something easier to get in and out of. I'm seeing this mentioned quite often on the forum.
The classic car/Morgan enthusiasts still exist, but they'll probably go for an earlier model, with the advantages of being MOT/Tax exempt and easier to tinker with, so anything currently beyond 1984 is of less interest, the market is getting over populated, hence the depression in price.
Purely supposition on my part.
