Why higher depreciation? I think two factors:
1. New price is too high and rising too fast; and
2. Target audience is dying off. All 3 of my kids and partners have little interest in cars. My younger brother (mid 50s) concentrates on the monthly lease cost, never wants to actually own a car. They couldn't tell me what engine they have, only whether it's petrol or diesel. My son in law (in his 30s) wasn't sure what my Plus Six was and was amazed they still make them. Wasn't interested in going for a drive.
As a result, Morgan factory waiting lists are down. I did see an unsold, unregistered Supersport at Krazy Horse in Feb this year. In November last year, I bought a 9 month old Plus Six Pinnacle, with extras, a fair bit over £20k less than the first owner paid for it. 1,700 miles, about £15/mile in depreciation. About £50k less than a similar spec brand new Supersport. I recognise I'll take a similar hit, plan to hang on to it though.
Slightly off topic, I went into a Merc dealer 2 years ago. I asked what the engine was in an SLK 430(?). He didn't have a clue. Didn't even know how many cylinders. Bet he could show me how to pair my 'devices' though and work miracles with the financing package.
Cars have become a commodity / necessary evil for a much higher proportion of the population, who might admire Morgan quaintness, but would never dream of spending their PlayStation upgrade savings on one. 😁
