Why most Land Rover Defender's are depreciating
The market value of the Land Rover Defender since production ended in January 2016 has been remarkably strong. There are very few cars which enjoy the same global cult following as the Land Rover, however there are some fundamental self-limiting factors to its long term success.
1. There are an extraordinary number of cars with shocking modifications and poor restorations. Ranging from the poor quality to the down-right disgusting purely subjective it may be, but that does not detract from it being unsympathetic to the original craftsmen or butchered at the expense of the original body work.
2. In 2016 the market became dictated by speculators. Values of all cars were bolstered by spikes in demand, with a handful of chancers offering delivery mileage cars for sale in excess of £100,000.
3. The Land Rover Defender is not a rare car. There were 2,016,933 cars made with an estimated 75% of cars still on the road. Its unlikely you can visit any country in the world without a Land Rover rotting away somewhere.
4. Running costs are expensive. Poor aerodynamics, dated technology and heavy weight materials make it extremely inefficient. Half decent quality replacement parts are extremely expensive, making the Defender a rich man's toy to keep on the road.
5. It is terrible to drive. Compared to modern utility vehicles such as the Toyota Hilux, the Defender is prehistoric. There also isn't any room for your arms in the cab of a Defender - how can such an obvious design gaff be overlooked for 67 years.
However, whilst there are some severe limitations to the Defender they are actually to the benefit of those who look after their cars. Decent condition, original Defender's are exceptionally rare and move in a very fast market. I can see the vast majority of Defenders depreciating whilst a very small number of good condition and well restored examples continue to command very strong prices.