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The vehicle auction market is in a "very steady" position as 2022 comes to a close, according to the National Association of Motor Auctions (NAMA).
The organisation's members met to compile their final market report for the year, and were said to be content with trading results.
Although there had been signs of slight falls in valuation, there were said to have been no dramatic disturbances, making for a stable market, with members predicting only a 1% or 2% fall in book value, reflecting a very normal market for this time of year.
Members reported a strong level of good quality stock, but said there was currently very little evidence of dealers stocking up for the new year.
Continuing new vehicle supply problems were said to be keeping used car values strong, and an expected continuing shortage of three-year-old stock could see values rising further.
EVs were said to have seen the greatest drop in values - however, as these currently make up a small proportion of the used market, this was said to be having very little impact on its overall strength.
NAMA spokesman Paul Hill said: "Traditionally, December is considered to be the quietest trading month of the year with consumers focusing on the festive season. Nevertheless, buyers have remained active in December, making trading feel like a normal month for many and auctioneers are confident this will continue into 2023.
"The expectation for January is that the market will remain in this steady position. The broader economic climate will have the greatest impact on spending habits, as we enter a difficult period with energy prices and cost of living price rises.
"With the increases in interest rates, this may impact retail buyers as finance becomes more expensive. However, currently we are not experiencing a fall in demand and used car appetite is strong."
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