Land Rover Range Rover (P38)

The P38 Range Rover has shed a quarter of its value over the past year, with the median price now standing at £16,651 and a sell signal firmly in place. The downward momentum is pronounced and consistent with the broader depreciation trajectory this model has followed into the used market.

Liquidity remains thin, with only seven transactions recorded over the twelve-month period and no active listings currently tracked. This scarcity of sales data means pricing signals are based on a small sample, and buyers or sellers should expect wider spreads between asking and realized prices than in more liquid segments.

The P38 commands a collectible classification with moderate desirability, driven primarily by its engineering heritage and iconic status within the Range Rover lineage. Typical examples trading in this market carry around 28,000 miles, suggesting well-preserved examples that retain some appeal to enthusiasts despite the model's age.

The baseline projection through 2029 is stark: values are expected to fall to approximately £8,720, representing a near-48 percent decline from current levels. By 2034, the trajectory points toward £7,183, or roughly 57 percent below today's median, indicating that ownership costs and maintenance may increasingly outweigh any collectible premium the model might retain.

Current market conditions favor neither holding nor aggressive acquisition. The combination of thin trading volume, depreciating fundamentals, and aggressive downside projections suggests waiting for either market stabilization or a significant change in collector sentiment before committing capital to this model.