Talk Morgan Forums Morgan Sports Cars Morgan Plus Four, Supersport & Plus Six (CX & CXV Generation Vehicles) Morgan residuals

Been mentioned before. One huge advantage of Morgan over other mainstream sports cars is residuals. Or was! As an exercise, this weekend I emailed the majority of Morgan main dealerships, most of whom advertise 'We want your Morgan' and those that did bother to reply all stated that they were not buying CX chassis cars at present; too much stock. I also notice a few Plus Fours up for low £60K. Quite a drop, when the average MY23 Plus Four sells for circa £90K. I also recall I sold my 2007 Plus 4 for almost list back in 2008 and sold to a dealer for cash. He bit my hand off. Apart from the present financial climate, I wonder why Morgan residuals have crashed. I have a few ideas.

Your findings add weight to my comments on the recent cost of Morgan Insurance post. re: Agreed value or market value

The thing is with low volume cars like Morgan just a very few additional cars in stock in what is a small dealer population represents "too many" . If you add the fact that this years CX production is mostly destined for overseas then a £60,000 CX begins to look like fantastic value, which indeed it is having had the the all launch problems rectified. The only issue is how many the factory register as hire cars/press cars to sell in the autumn when yet another new model year appears. The time to sell an open top sports car has ,and always will be in the summer.

I think you'll find that dealers aren't really buying anything at the moment, or they will offer such a low price you'd have to be very a motivated seller to accept.
Supply is high and demand, at the moment....... isn't....!
Most dealers will only do SoR, they can't afford, or are reluctant, to buy stock, because of the obvious financial risk.
There are a lot of trad cars as well as CX cars available on all websites, dealer or otherwise.

I don't think it helps the dealers when they are in competition with the factory, the factory will always win, they can charge what they want.

The cost of CX cars, especially when you have quite a few in stock, soon becomes a major issue for dealers when MY updates make your stock obsolete. That wasn't so much of an issue with trad cars as they didn't change too much from one decade to the next......!

The often talked about rock solid Morgan residuals might be less solid now.
I've always considered that losing a bit of money when selling, what is a toy after all, is just part of the cost of ownership. I'd rather not lose money though, but I'm not a CX owner so it's not so much of an issue for me.................🤷🏻‍♂️🙃

My 5 year old Trad has been valued by a reputable Mog dealer at what I paid, so bar annual on-costs and a few shiny tweaks, zero depreciation

Stock is high yes, but I think a few factors are at play here.

1. It should be noted that most of the lower priced Plus Fours on the lot are early versions and there have been some significant price increases since with some changes to the offering. So it stands to reason that a MY20-21 won't be increasing in value to the level of a MY23. IIRC a MY21 started at £64 whereas a MY23 starts at £70 but with items like a standard full leather interior stripped out. Add in what was taken out and a MY23 spec'd to what was a MY21 actually comes out to circa £73
2. Last years recall/stop sale due to the brakes literally wiped out approximately a years worth of sales. Retailers couldn't offer test drives, cars were not being built or to a lesser volume etc. Any leads or prospects they might have or built up were not there.

I recall looking to trade my 4/4 in a few years after I got it and was a bit shocked at the low offer I was given, what with all I've read about a Morgan keeping it's value. However a few more years passed and it levelled out.

As mentioned above, stocks are high across the board and the demand however isn't there to shore it up. It also doesn't help that so much has changed on the CX in it's short life span and as a prospective customer I personally wouldn't be spending this kind of money on a used one when for a bit more I can get all the updates. Just my view of course!

Lastly, look at Aero prices. Prior to the CX an Aero 5 could be had for as little as £70. Look at what they are now! Who knows what the next few years will bring.

To trade my 2020 first edition Plus Six with under 5k miles for a MY23 Plus Six would cost me £40000 +, it is the same car with a few updates that I do not need, the performance is the same.
I know which represents the best value so will not be trading any time soon.

I am surprised one of the ex dealers like RTCC or Beamish dosent offer a CX upgrade kit for the MK1 cars such as improved brakes, suspension and remap etc.. as all the changes could be upgraded after market.. they early cars will be out of warranty so no harm in doing it. unless the difference between a early car and a MY23 are marginal and it would be a difficult sell.

I've always viewed the "rock solid residuals" as a bit of a wish, rather than a reality.
The CX models changed everything, then Morgan Motor Company changed ownership.

In November 2014 I paid £65,000 for my then 9 month old Aero Supersport Plus 8. What is it worth now?
Talking to dealers, anything from £50,000 and upwards...I can't get a clear answer, but probably close to what I paid for it.

Even if it is £50,000 that is trivial depreciation: anything else bought for £65,000 in 2014 would be worth close to "Not a lot" in 3023.

This 2013 Plus 8 has only covered 17,000 miles and retails at £69k (trade probably £60k ? ) I assume its the same car as yours Peter ?

https://rtcc.co.uk/cars/2013-morgan-8-4-8-bmw-v8/