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In the diverse landscape of European automotive markets, the residual values (RV) of vehicles can exhibit drastic differences, as seen in the case of the BMW X1 and Skoda models.
The pricing structure in the Czech Republic, for instance, presents a unique contrast compared to other European countries. This domestic advantage is particularly evident for Skoda models, but it's not always a determining factor in RV performance. An automatic, 115hp, petrol-powered 12-month-old Skoda Fabia at 20,000km, for example, retains more value in percentage terms in the Czech Republic compared to other markets.
In contrast, the BMW X1 has the best RV levels in France, outperforming its local competition, including Audi and Mercedes-Benz. Interestingly, the pricing structure in Germany contributes to the BMW X1's high RV performance, with an automatic, 150hp, petrol-powered, front-wheel drive BMW X1 with a base trim showing positive RV performance.
However, the story is different in Italy and the UK, where value retention for the BMW X1 is lower compared to its performance in Germany. A similar pattern is apparent in larger segments, such as the Skoda Kodiaq, where an automatic, 150hp, petrol-powered, front-wheel drive Kodiaq achieves higher RVs in the Czech Republic than other European markets.
The performance differences of models from their manufacturing countries compared to competitors are largely due to productivity disparities, with around 70% of the GDP per capita gap explained by lower productivity, affecting income growth and domestic demand differently across regions.
Spain currently enjoys high RV resilience with higher used-car values due to lower new-car prices. On the other hand, RVs are under pressure in Italy, riding at a comparatively lower point with higher average new car prices.
In France, battery-electric vehicles (BEVs) and plug-in hybrids (PHEVs) are falling behind the value retention rates of other powertrains. This trend is not exclusive to France, as the electric counterpart of the BMW X1, the iX1, retains the highest RVs in Spain.
A general conclusion about the iX1 outperforming its competitors across markets cannot be drawn, as other models like the Mini Countryman and Mercedes EQA rank higher in France. However, Peugeot, a traditional French brand, enjoys a RV advantage in France compared with Spain and Germany for an automatic, 130hp, diesel-powered, front-wheel drive Peugeot 308 Allure.
In conclusion, the residual values of vehicles in Europe are influenced by multiple factors, including economic trends, regulatory policies, carmaker decisions, and technological features. Understanding these factors can help consumers make informed decisions when purchasing a new vehicle.
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