Article Type: News

In 1996, Lotus released the Elise. A lightweight fibreglass body over an aluminium frame, it weighed in at just 725kg. Although only powered by an 118bhp Rover K series engine, it raced to 60mph in just 5.8 seconds, fast by 1996 standards! 

The Lotus Elise effectively replaced the much-maligned front wheel drive Elan, which suffered from its launch in 1989. Considered too expensive, the Elan struggled to compete with the Mazda MX-5, which launched in the same year.  Lotus purists never accepted the Elan, as it broke away from the Lotus philosophy of rear wheel drive, unfortunate really, as it was actually a decent car. The MX-5 had rear wheel drive and cost much less than the pricey Lotus and ultimately proved more popular. Following the demise of the Lotus Elan in 1996, this car actually survived for three more years, living out its final days rebadged as a Kia.

Learning some tough lessons, the Elise Series 1 was everything the earlier Elan should have been from launch. There was almost nothing to catch it through twisty roads due to its superb handling, all that from a car hand-built in Norfolk.

Over recent years, Series 1 models have achieved collector status, with values exceeding the prices realised by early Series 2 models. The most highly prized are very early S1 models on an N or P plate, which achieve even greater premiums especially if they have the MMC Aluminium ceramic brakes. The 111S introduced in 1999, which had the addition of a rear wing and upgraded seats, commands a £2,000 premium. Special edition models like the Sport 135, Sport 160, and Sport 190 are rarer still and fetch notable premiums.

The Series 1 ceased production in 2000 replaced by the Series 2. Part funding of the S2 development program came from General Motors, with the car retaining the Rover power plant until the end of 2005. The change to the Toyota engine units began in March 2004 with the range topping 111R model. The last nine months of the Rover engine models carried customer purchase incentives including free hard tops and electric windows. The demise of MG Rover in 2005 signalled the end of Lotus’ use of the K series power unit.

For 2006, the Elise was available in two revised versions the S and the R, both using Toyota engines. The S developed 134bhp and the R was more powerful at 190bhp, this more powerful version commands up to a £3,000 premium over the lower powered unit. With a desire for evermore power, in 2008 the SC version arrived. SC stands for Super Charger, which produced 218bhp; again, these versions command a premium in the used market of an additional £1,000 over an equivalent 190 version.

In 2010, the Elise underwent a notable facelift, including a new front end; with the indicators now incorporated under the headlight cover. Many have referred to this change as the Series 3, although this is not an official factory designation. This was the post-recessionary period, with few models produced leading to them being quite rare today.

The penultimate model released was the Cup or Sport 220 (220bhp). Production commenced in 2014 for the 2015 model year, with current retail prices in the low £40,000 region. Finally, the Cup 250 (250bhp) released in 2017, now retail in the £50,000 price range but as with all later plate models, depreciation in most likely, in contrast to early models, which are now in value ascendancy.

After 23 years of production, what does the future hold for the Elise? Suggestions are that it has run its course and despite its successes and trueness to Colin Chapman’s original “simplify, then add lightness” design philosophy of the 1960’s, the Elise seems likely to face an uncertain future, as more powerful and luxurious sports cars command the current performance market.

In 1982 along came a revolutionary new car called the Datsun Micra (K10). It was the replacement for the very popular Datsun Cherry.

The Micra was a small car introduced to compete with the Toyota Starlet and Daihatsu Charade. It launched in the UK a year later than in Japan in 1983. Soon after launch, the Datsun name disappeared in favour of Nissan and interestingly just one Datsun badged Micra K10 remains registered in the UK. It sported a 1.0-litre engine producing just 50hp and unusually for a supermini of that time, had a five-speed manual gearbox or four speed automatic.

A modern car by 1983 standards; it was small and economical, and quickly became a popular selling model in the UK. In part, the economy was due to the Micra having a very low body weight and high gearing, although some of the weight saving was attributed to minimum amounts of insulation; this meant that early cars were rather noisy rides. Competitor cars also launched in 1983 were the Vauxhall Nova, Peugeot 205, Fiat Uno and the second generation Ford Fiesta.

In 1985 and again in 1987 Micra had minor face-lifts and the addition of a 1.2-litre power unit, however visually very little changed and it was almost impossible to see the changes brought about by those two updates.

In 1992, the square look gave way to the much more rounded K11 Micra. The second generation was fitted with a higher power output 1.0-litre (54hp) engine or a 1.3-litre (74hp), and a 1.5-litre diesel variant. It won European car of the year in 1993 with some models even having power steering!

The Micra K11 had two face-lifts in 1996 and again in 1998 by which time all models finally had power steering. Although the overall look had changed very little, the most obvious change was the introduction of body coloured bumpers and door mirrors and updated lights and front grille.

In the early 2000’s The K11 looked outdated and the third generation (K12) launched in 2002. Just two years later came the first facelift; most notable was the change in front indicators, to clear lamps.

In 2007, Nissan introduced more changes with the introduction of the K12C Micra. The most notable change was the revised front Grille that no longer incorporated indicators.

The Fourth Generation (K13) model introduced in 2010 came with huge styling changes. Launched with a choice of petrol engines, 1.2-litre and 1.5-litre, 79hp and 98hp engines, it also received supercharger treatment with a 1.2-litre engine giving 98hp, and a 1.6, 106hp. The fourth generation ran until 2017, with a face-lift in 2014, which again focussed on a revision of the grille and lights and of course, some interior trim changes and upgrades. The Fourth Generation model sold well around the world; however, UK sales were less favourable than previous generations. 

The Fifth generation (K14) launched in 2017. Although it shares the platform from K13 Micra, that is the only similarity. Offered with a 900cc turbo charged 90hp or a 1.0-litre 71hp and a 1.5-litre diesel 90hp unit, it received huge styling changes with an all-new more angular shape and specification improvements. Micra residual values (RVs) have been reasonably stable over the past twelve month as can be seen in the following chart showing RVs expressed as a percentage of original cost new price.

The Micra has transformed some might say, from caterpillar to butterfly. A fitting design to take Micra into its fourth decade of production.

The Skoda Octavia vRS has increased in popularity over the last few years, with trade residual values for petrol and diesel versions rising in line with demand.

The following chart shows residual values (RV) for the Octavia vRS since 2016 for both petrol and diesel variants.  The chart shows the RV for both petrol and diesel models increasing in this period. Petrol versions are seeing the biggest rise, from 50% in 2016 to 57% this year. The general rise in popularity of petrol cars is supporting this increase. Between 2017 and 2018 diesel RV’s saw a slight decrease but have since recovered.

The Octavia vRS models are much sportier in design than other models in the range, with the latest generation having a two-litre turbocharged petrol engine developing 242BHP or two-litre turbocharged diesel version with 180BHP.  Although sporty in design, the Octavia vRS is still very practical, coming in saloon and estate body styles whilst offering large boot spaces and rear passenger legroom.  Popular with company car drivers, the diesel version has a 25% benefit in kind rating, favourable compared to other cars in its segment, together with good fuel economy.  

Overall, the Skoda brand continues to increase in popularity, kicked off by joining the Volkswagen Group in 1991. Produced by the Czech manufacturer since 1996, there have been three generations of the Octavia to date, selling approximately five million units in total. Currently around 40% of all new Skoda cars sold in the UK are Octavia, underlining their continued popularity.

The M3 is a high performance variant that sits at the top of BMW’s 3-Series range. Developed and built, at least partially, by BMW’s M division, it has been available as a two and four door saloon, coupe, and convertible, although with the launch of the 4-Series the latter two body styles were renamed M4. Compared with the rest of the range, the M3 has engines that are more powerful, upgraded brakes and suspension, enhanced aerodynamics, special lightweight components and M-specific interior elements. Like most cars, the 3-Series has grown somewhat over its seven generations, and the M3 has followed suit:

Fortunately, the M3’s power output has more than kept up with the weight increase, resulting in much improved performance figures over the original car. However, simple performance statistics are not the only important factor with a car of this type, and some enthusiasts bemoan the effect of the weight gain on the driving experience.

The E30 M3 was the first M3, and regarded by many as the ultimate iteration. It was launched in 1985 as a homologation model to enable BMW to race in Group A Touring Cars, which required participating cars to share key components with a road car of which at least 5,000 variants had been produced. It had extended rear wheel arches to allow for the wider tyres required for racing and a raised boot lid to improve aerodynamics. This necessitated a change to the angle of the rear window, which, along with the windscreen, was bonded to the body shell to aid rigidity. These changes contribute to the fact that most body panels are unique to the M3 – sharing only the bonnet, roof and door panels with the rest of the E30 range. The interior was closer to its lesser siblings, with a unique M steering wheel and gear knob, an M3-specific instrument cluster, and a more deeply contoured rear seat.

Unsurprisingly, BMW Motorsport specially built the engine. Designated the S14, it was a 4 cylinder 16v naturally aspirated 2.3L unit producing 200hp, and whilst this does not sound a lot by today’s standards, it was fitted in a car that weighed only 1,200kg. The gearbox was also special – a close ratio 5 speed box with a dogleg first gear – and it transmitted the power to a limited slip differential. Whilst sold in right hand drive markets such as the UK and Japan, it was only ever available in left hand drive. There were very few mechanical changes during the car’s production run – most were in conjunction with special editions:

• M3 Evolution I – 1987 – 505 units. A revised cylinder head to accommodate motorsport requirements, but still 200hp in road form.
• M3 Evolution II – 1988 – 501 units. 220hp, larger 7.5×16” wheels, thinner side and rear glass, lighter boot lid, larger rear spoiler and deeper front splitter.
• M3 Sport Evolution – 1989-90 – 600 units. A homologation special based on the Evo II. Power up to 238hp, due to a capacity increase to almost 2.5L, plus other changes including enlarged vales and a more aggressive camshaft. Fitted with wider front wings, along with adjustable front and rear spoilers, in the interests of weight saving BMW deleted most of the “comfort” options such as power windows and air conditioning.
• M3 Tour de Corse – 1987 – 40 units (France only). Based on the Evo I, Alpine White or Diamond Black, enhanced equipment levels.
• M3 Europameister – 1988 – 148 units. Built to celebrate the M3’s dominance of the 1988 Touring Car season, based on a standard M3 but in Macau Blue with Silver nappa leather and fitted with the larger 7.5×16” wheels.
• M3 Cecotto – 1989 – 480 units. Similar to the M3 Evo II, but with a 215hp version of the S14, which would become the standard engine in the M3 from the last quarter of 1989. Named after the successful BMW racing driver Johnny Cecotto.
• M3 Roberto Regalia – 1989 – 25 units. A UK-only special, identical to the Cecotto, but renamed to reflect Roberto Ravaglia’s success in the BTCC.

The E30 M3 is one of the cars that has really benefitted from the recent growth in values of cars of this type. A few years ago, it was possible to buy a good example for around £10,000 – today, that same car is probably worth £40-50,000. Condition, originality and provenance are key, with age and mileage largely unimportant, and whilst a typical example will cost around £40-50,000, the better examples are closer to £60-70,000. A particularly rare edition such as the Tour de Course will cost twice that if you can find one.

The E30 M3 is firmly established as a classic icon, and many see it as the purest interpretation of a driver’s car. No assistance systems, a manual gearbox, a light body and a responsive, agile chassis make it a great car to drive – it is civilised enough to be used as an everyday car, but really comes into its own on twisty roads or racetracks. The ideal car for a weekend trip to the Nurburgring or a Spa track day.

Throughout the 1990s, the benchmark C-segment car was the Ford Escort. A popular car with a loyal following that became a British icon.  In 1998, Ford released its successor, the Focus. It did not just raise the bar; it changed everything, redefining what a family car needed to be.

Other manufacturers had to up their game in the C segment. Vauxhall launched their Mk4 Astra in 1998, answering many of the criticisms of the previous generation model.  However, it never managed to match the Focus’ sales success.

In 2002, Ford introduced the Focus RS. With its 2.0 Turbo charged Duratec engine and a limited slip diff, seventy percent of its parts were either unique, revised or uprated. Additionally, it was only available in imperial blue and 2147 of the total 4501 production run found a home in the UK. Already heralded as a future classic; current examples can be found from just shy of £10,000 all the way up to £16,000 for the lowest mileage cars. It is likely, that used values will soon rise above the £19,500 original cost new price for the best examples.

The second generation Focus launched after just 6 years and boosted sales yet further. Ford increased its length, height and width and added new technology, combining to add significant weight. Critics suggested the handling was not as sharp, all agreed though that it was visually better and more modern looking. Above all, it continued to be hugely successful. The body shape line-up was a three door, five door and an estate as well as four door saloon, the latter being a poor seller in the UK, but popular in many countries across Europe. In 2007, we saw the launch of a retractable hard top model, which was popular for the UK market, especially as it had both petrol and diesel engines available.

Ford released the Focus ST range in 2005 suggesting it was the RS replacement; it was powerful coming with a 2.5 litre five-cylinder turbocharged engine, once again adding a performance model to the line-up. However many enthusiasts desired another RS version but Ford did not answer this until 2009 when it heavily revised the ST’s 2.5 engine, giving it an impressive 301 BHP. Currently in the used market examples range from £15,000 to £21,000, not yet considered a modern classic as it is not yet old or rare enough, although there are those who will have already labelled it to be a future classic.

In 2011 Ford introduced the third generation Focus which of course carried new technologies and a more modern look, this new look was overtaken just three years later by the revised open mouth look front grille and slim line headlamps in 2014.

With volumes pushing to around 2 million units sold, the Focus has clearly been a huge success and deservedly got a new RS version in 2016 using an up rated version of the Mustang 2.3 engine. For the first time coming with all-wheel drive. With 345 bhp on tap, the RS is now a car with serious track ability.

Marking the Focus brand’s 20^th birthday, in April 2018, Ford unveiled the new European and Asian-market versions. This, the fourth-generation Focus follows the previous generation available with saloon, hatchback and estate bodystyles.

The completely new car features a sportier design, with a simpler interior whilst including technology such as the Sync 3 infotainment system, and the CoPilot360 driver assistance features.

As a first for Focus, a crossover SUV trim level known as the Active is available with the hatchback and estate bodystyles. The car also has a Vignale luxury trim level, following successful launches on other Ford models in Europe including the Ford Fiesta, and Ford S-Max.

Following customer feedback from the previous generation, in this latest version, Ford has improved interior quality, rear legroom, boot space and on-board technology.

With good reason, the Focus is the UK’s second best-selling model. It is Ford’s stable-mate the Fiesta that is the number one selling model. Therefore, Ford clearly have a winning formula for these two ranges.

Every month at auction, Focus models account for up to 5000 units across all versions, fuel types and ages. That is up to 250-used Focus available to the Trade every working day!

Jeep Wrangler: a sensible choice?
Although not a direct descendant of the famous World War II Willys Jeep, so synonymous with classic war films, the Jeep Wrangler’s design was (and still is) heavily influenced by it. Despite an increasingly crowded SUV market, its rugged, no compromise looks continue to make it stand out and thrive.

Running until 1986, the Jeep CJ models preceded the Wrangler. They were more utilitarian and stripped down, in a similar vein to the original military Jeep. Indeed, CJ stands for Civilian Jeep. By the 1970s and 1980s, the CJ-7 became popular as a recreational car, not just as an off-road work horse, so needed better road manners, stability and comfort.

Launched in Chicago, with production running from 1986 to 1995, the Jeep Wrangler (model YJ) bore a strong resemblance to the CJ-7, with a new design incorporating:

• Square headlights
• A wider stance
• Reduced ground clearance
• Increased comfort
• Improved safety and handling

In 1996, release of the second generation (TJ) reverted to round headlamps and used coil springs to improve on road comfort. Other major changes included the addition of a long wheelbase and two extra doors from 2004. Production of the TJ ceased in 2006.

The third generation (JK) Wrangler entered production in 2006 and ran until 2018. Developed under Daimler Chrysler this was a “bottom up” new design, including features that were “standard” on road cars. The four door long wheelbase models outsold the two-door version.

The latest completely new generation (JL) launched in 2018 with a clear objective to retain the iconic Jeep look while remaining true to itself. The JL retains legendary off-road capabilities and introduces advanced technology for the first time. The result is the most capable Wrangler ever, courtesy of unmatched technical features, mated to efficient engines and smooth gearboxes.

In the UK, sales remain small but steady at approximately 500 units a year for the last 10 years. They have become somewhat of a cult car, and with its retro styling, a hit with the more fashion conscious looking for some originality. This combination along with the relatively small numbers available to buy in the second hand market keep residual values high compared to similar market categories.

The chart above shows the Jeep Wrangler’s residual value performance throughout the different ages, from one to 10 year olds. It is clear to see that the Wrangler’s rate of depreciation is favourable compared to similar rivals.