Luxury SUV Depreciation: A Cautionary Tale
The 2024 Range Rover P530 Autobiography LWB is a behemoth of a luxury SUV that commands attention on the road. Originally priced at $191,520, this vehicle has lost a staggering $56,520 in value after just one year and 4,900 miles. To put this depreciation into perspective, the loss is enough to buy a brand-new base Land Rover Defender 90, which starts at $56,900.
This Range Rover is equipped with a 4.4-liter twin-turbo V8 engine, producing 523 hp and 553 lb-ft of torque. The SUV comes with various luxury features, including a $8,540 Flux Silver paint finish, $5,600 deployable side steps, and $1,150 Ebony Near-Aniline leather seats. The extensive options list contributed to the original sticker price of $191,520.
While the owner likely enjoyed driving this extended-wheelbase SUV, the significant depreciation may be a concern. The vehicle’s value is expected to continue decreasing, with decade-old Range Rover Autobiography SUVs currently selling for between $20,000 and $30,000. Prospective buyers should consider the running costs, which reflect the vehicle’s original price tag.
For those who can afford the maintenance costs, this SUV might be a tempting option. However, for others, more affordable mainstream SUVs like the Toyota RAV4 or Honda CR-V might be a more practical choice. The decision to purchase a luxury vehicle like the Range Rover P530 should be made with careful consideration of its depreciation and ongoing expenses.
