Audi A3s flood used car market
13 August 2013
Author: Jack Carfrae
Remarketing industry experts have declared the current used car market "stable" but have noted a number of recent fluctuations. Richard Crosthwaite, prestige car editor at Glass's, hinted that the ex-fleet used market was becoming overcrowded by the addition of a large amount of prestige German models, most notably a higher than expected supply of nearly new Audi A3s.
"[Ex-fleet models] are the cars where values struggle more than the norm because higher supply means more competition when selling, which usually adds up to a lower margin," he said.
"The usual suspects are the Audi A4 , BMW 3-series and Mercedes C-class 2.0 diesel SE and Sport models, but in the past four weeks the Audi A3 1.6 TDI Sport has joined the list with a very high number of 12/12 plates."
Online remarketing firm Autorola reported exceedingly high demand and returns in excess of 10% over price guide estimates for £5000-£7000 cars, blaming the 2010 scrappage scheme and the trend for downsizing.
Head of operations, Neil Frost, said: "The demand is healthy and we believe this will continue over the next year or so until we see greater volumes of these size and price of cars coming back into the market."
Cap described the used market as "stable", despite increases in new car sales, but claimed values for city cars and superminis were tailing off.
Virtually all remarketing firms have said convertibles have not experienced their usual summer lift in values this year, citing the economy, oversupply and the fact that, according to CDL VIP Data, many businesses have removed them from choice lists in efforts to cut costs.