WLTP prompts rise in car auction values
07 November 2018
Author: Sean Keywood
The average price of used cars less than two years old increased by more than £1,000 in the third quarter of 2018, according to auction firm Aston Barclay.
Known as the late and low sector, the average price of such vehicles went from £14,457 to £15,589, which Aston Barclay attributes to franchised dealers investing more in used stock to satisfy customer demand, after the introduction of WLTP caused some supply issues for car manufacturers.
Group operations director Martin Potter said: "The Q3 price rise in the late and low sector can be attributed to franchised dealers acquiring young used stock in light of WLTP to offer customers who are unwilling to wait for a new car.
"We believe the high demand and rising prices in the late and low and fleet sectors will continue until the WLTP new car supply challenges have been resolved, which could be spring 2019."
Aston Barclay's data also showed an increase in average petrol car values, which were up by £188 to £4,325.
Average diesel values were down by £60 but, despite this, Aston Barclay says demand for the fuel remains strong.
Hybrid/EV prices were down by £485, with increasing stock volumes reported from this sector.