Used prices hold steady but demand falls

Average used car values held steady during April, according to BCA Pulse data, up a fraction on March's average values at £5,406.

commented “Confidence in the used vehicle market remains fragile in the post-Easter period and supply has undoubtedly increased at a time when demand has fallen," said BCA Communications Director Tony Gannon.

"While auction values were static in April on stock of comparable age and mileage, CAP values were consistently higher. This suggests either the quality and mix of stock has improved and values achieved did not reflect this upward shift or CAP values - which were set in March – proved to be overly optimistic.”

“In reality, prices on well-presented and nicely specified retail-quality cars were maintained in April, but with little else selling, price alone is not telling the full story. Conversions fell noticeably in April and there is now a lot of unsold stock remaining in the market, which is continuing to depreciate.

"This will inevitably be sold at what the market will realistically pay and that’s when we will see the average selling price reflect the true market condition.”

Trading conditions in May have, if anything, worsened, with demand continuing to decline and conversion rates still under pressure," added Gannon. "Anecdotal feedback from our dealer customers suggests that retail buyers are just not around in any great numbers, with many struggling to raise finance for any potential purchase.”

BCA’s Pulse report shows that fleet & lease used car values had some modest growth from £6,619 in March to £6,642 in April, with similar age and mileage profiles.

Average part-exchange values fell by £24 (1%) to £2,346, to post a third consecutive monthly fall. Average values are nearly £100 – around 4% - behind those recorded in January.

Best Used Family Cars Under £1,000

There might be more than one way to string a cat, but there’s definitely more than one way to afford a credit crunch-beating used family car in 2008, as MT finds out here. Two of them are Rovers. Crikey, times must be tough.

1.3m US damaged used cars sold as clean

Experian AutoCheck highlights that 15% of used cars sold in America are prone to losing critical damage histories between states, placing drivers at risk. ‘Title-washing’ for first half of 2008 claims over 185,000 victims.

Large used cars suffer at hands of smaller alternatives

Small used cars have biggest ambition in 2008, as increasing amount of UK drivers believe larger vehicles fall short of their fuel efficient, low running cost expectations; and are voting with their feet at Dealers.

Used-car values continue to fall

Used car values will fall by at least 12 per cent between now and Christmas, warns EurotaxGlass’s.

'Zero demand' for used petrol 4x4s

There is currently zero demand for used petrol 4x4s, according to a leading car price guide, and owners of such vehicles have been refused part-exchange on large petrol 4x4s.

Name

Comments

Validation	Please enter the text to the left (case sensitive)
Reload