Ex-fleet vehicle shortages blight used car market
20 May 2013
Author: Jack Carfrae
Remarketing experts are widely reporting a continued lack of good quality, low-mileage used cars.
Head of valuation services at RV specialist CDL, Gavin Amos, said the outlook was bleak for the numbers of cars on the market, with the potential to drive up second-hand values even further: "The shortage of good, low-mileage two- to four-year old stock continues, with any units sold increasingly difficult to replace.
"[This] is not going to ease overnight. Indeed, without the correct management of new cars, the problem will continue for much longer than it needs to."
A spokesperson for Cap described the stock shortage as "a real pain" for the second-hand car market.
However, auction firm BCA reported a 7% month-on-month drop in used values throughout April with an average price of £6502 - down £498 compared with March, marking four months of decline in prices since December. Even so, BCA said used values were still up by over 16% year-on-year.