One of Morgans like early Land Rover selling points, key characteristics, attributes is the number of cars still in existence of the total made. That in the main is due to the body of aging enthusiasts who keep their cars on the road, in spite of all the challenges.
But things are changing for what many consider a 'toy' car, as the once bullet proof 'investment' slides down the once unheard of depreciation spiral. Poor quality, poor engineering, idiosyncratic attributes, poor ride, heavy maintenance etc., was often more easily tolerated, if the 'asset' had high residual values. So the cost of getting in and out the brand didn't carry too heavy a burden/price tag..The Morgan used car market is littered with low ownership low mileage cars, rarely used, with one former saving grace, if you got it wrong it didn't cost you much to get out of it.
But that picture is changing as trad and CX prices tumble, and so it may dilute the esteem/brand premium associated with the Morgan brand, to justify the higher new prices achieved. For example you rarely see a second hand £5k+ Rolls Royce on a RR dealership forecourt with new cars costing £250k and upwards, as it dilutes the perceived exclusivity ,eliteness and accessibility to the brand. Those cheap second hand Rolls Royce exist, but not visible to the customer looking up what unique features they can build into their car whilst in the RR dealer showroom.
What does it mean for the existence of Morgan longer term, if depreciation becomes a major factor/feature in the 'value' equation, that didn't exist say 5 years ago. How many prospective buyers beyond the core of enthusiastic owners, will venture down that path of Morgan ownership, when comparing 'like with like' with other open topped motors if depreciation and reducing residuals now feature hugely in the equation, where they didn't before. The once low cost 3 year rental plans become a much bigger financial burden to bear and can influence more the buyer's criteria.
When it comes to running old cars into the ground , that's fine with me. The often sad aspect of that reality is t those cars tend to disappear more quickly and lost forever. But its' something we need to increasingly get used to in a more accelerated time frame as the ICE has had its day and like work horses before them, will become a thing of the past and a rare sight.
Not every one is hands on, if fact all my neighbours are in their later years of life and absolutely none of them maintain their own cars, whilst they will undertake other maintenance work around eg the house.. So increasingly the cost of repair to value of the car figures far more in their thoughts, as they seek more reliability , ease of operation and increasingly easier entry and egress in their transport choices.
As I said I see very few young people driving Morgans compared to when I first got one in the 80's. They are perceived as an old man's game and it's running out of steam.
Last edited by JohnHarris; 22/05/25 02:57 PM.
