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2015 'most stable used car market in a decade', says Autorola

Date: 11 January 2016   |   Author: Daniel Puddicombe

The UK used car market was at its most stable for a decade in 2015, with prices rising by around £700 over the 12-month period, online remarketing company Autorola UK has said.

Average prices increased by £201 in the first nine months (from £8641 in Q1, to  £8842 in Q2 and £8838 in Q3) thanks to supply and demand being very consistent.

However, the remarketing company experienced a price rise of £502 to an average of £9360 in Q4, which the company attributed to more high-value part-exchanges being sold compared to the first three quarters.

"In quarter four we have seen more £20k-plus stock being purchased online from our prestige manufacturer brand clients which has explained why average prices increased quite dramatically," said Autorola UK sales director, Jon Mitchell.

"When you take those cars out of the mix, the Q4 average price was closer to that of the first three quarters of the year," added Mitchell.