Range Rover values stall as anniversary approaches
Prices for the second-generation Range Rover are failing to take off in its 20th anniversary year, traders have told CCfS's sister newspaper Classic Car Weekly.
With air suspension for a controlled ride, a lusty V8 to ensure enough performance, and an ‘old-money’ image which other brands fail to match, the Range Rover P38 offers compelling arguments for purchase. Yet it’s at an all-time price low. With prices for this luxury 4x4 now well under £1000, it appears to be the ideal time to buy a good example.
Mark Smith of Woodside Garage told CCW that the market is dormant for P38s: “There’s no real collectors’ market yet except for rarities such as the Autobiography or the Holland and Holland. Interest seems to have vanished in recent months – people are looking at the later L322 Range Rovers, and Classics fly off our forecourt. The issue we’re seeing with the P38 is prices are very low – a really nice car I had in stock sold for £1600, most of my part exchange cars go for £500 through auctions, and at that price point people expect to be able to get their hands dirty.
“A P38 is far too complicated for most home mechanics, so they’re just not interested.” He added that P38s acquired a reputation for complexity, and these prices may in part be due to the cost of repair bills.
Mark Calzoni of Land Rover specialist Simmonites also confirmed that prices are slow currently: “They’re getting old now, and they’re not really friendly cars for the home mechanic. They’re prone to electrical issues, the air suspension causes problems, and the 4.6 litre blocks were notorious for cracking.
“It’s unlikely we’ll see much movement in values in the near future because it’s just too troublesome a car for many to take on. The only plus point is that, unlike many classics, they don’t tend to rust!”
• Woodside Garage 01525 862727
• Simmonites 01274 833351