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WLTP blamed for ex-fleet used car price fall
Date: 26 April 2019 | Author: Sean Keywood
The average value of used cars sold from the fleet sector fell during the first quarter of 2019 compared with the previous three months, according to auction company Aston Barclay.
The firm says this was due to uncertainty about the new WLTP emissions regime causing contracts to be extended. This meant the average age of cars sold was up by 0.7 months to 42.5 months, and average mileage rose by 9.8% to 54,013.
This led to a £486 price fall quarter-on-quarter to £9,523. However, there was still a £325 rise year-on-year.
According to Aston Barclay, there was also a fall in values in the late and low sector - down by £1,005 quarter-on-quarter to £14,243.
The firm says this was due to highly competitive new car offers leading up to the number plate changeover, although year-on-year values were still up by £896.
Performing particularly strongly during the first quarter of 2019 were hybrids and electric vehicles (EVs), which reached a record average price of £13,736.
However, the average price of petrol cars was down quarter-on-quarter, by £445 to £4,206, and diesel car values saw a bigger fall, by £1,317 to £7,501.
In the dealer part exchange sector, Aston Barclay has reported year-on-year increases across all ages of vehicles.
Group managing director Martin Potter said: "Q1 2019 has again proved the resilience of the used car market and there are further signs that EVs and hybrids are gaining in popularity, although volumes in the auction hall are still low.
"Q2 is likely to be slightly trickier for the used car market [when] faced with the start of the bank holiday season, and the additional volume coming into the wholesale market from a strong March plate-change which traditionally causes pressure on pricing."
