SUV sales no longer peak in winter, a finance company has revealed – because sales are now strong all year round.
Magnitude Finance reports that this contrasts with previous years, where SUV sales traditionally rose in the final three months of the year: during October-December in 2009-2011, SUV finance applications grew by more than a third.
Now, however, the pronounced rise is not there – because demand remains strong throughout the year.
Magnitude director Tim Marlow said: “The harsh winter of 2009/10 saw an increase in luxury 4×4 purchases via finance which has continue to the point that we now see demand remaining consistently high throughout the years.
“The weather is still a factor but the overriding reason is how much enjoyment people get from driving Range Rovers, Porsche Cayennes, BMW X5 and Audi Q7s, regardless of the season.”
He added that a lot of Magnitude’s rich customers, who use the firm to finance the latest sports cars and supercars, also own a luxury SUV: they are seen as, said Marlow, “the perfect vehicle for transporting the family or travelling long distances for business purposes on a daily basis.
“In addition to a top specification Range Rover or Cayenne, they will also own some thing more exotic for use purely for enjoyment during holidays or on a Saturday afternoon.”