We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive all cookies on the Business Car website. However, if you would like to, you can change your cookies at any time
The start point for the best source of fleet information |
The average value of a used car at the three-year/60,000-mile point has fallen by just 0.1% in March, according to Cap HPI.
The data firm said the same level of decrease has also been seen from one-year-old cars, while the five-year and ten-year age points saw decreases of 0.7% and 1.8% respectively.
According to Cap HPI, older, high-mileage, and damaged stock has continued to be the most challenging part of the market, with further deductions seen throughout the month.
Cap HPI senior valuations editor Jeremy Yea said: "Cars in good condition with low mileage and holding good provenance are still the most sought after within the market and across all mainstream vehicle sectors.
"These are viewed as fast-churning good retail stock, where competition remains strong despite the increase in wholesale supply levels throughout this new registration plate month.
"This injection of increased used supply into the market has certainly not dampened the desire to buy, and current supply and demand levels are still well matched."
According to Yea, used car sales have remained healthy within an overall upbeat and stable retail marketplace.
He said: "The consensus is that consumer enquiries remain at good levels. This return to what can only be described as 'normal seasonality' has been a much-needed period of stability welcomed by retailers during this important first quarter of the year."
In terms of fuel types, used hybrid and petrol car values have increased by 0.5% and 0.2% respectively during March, while plug-in hybrids have fallen by 0.7%, and pure EVs by 2.3%.
Yea said: "The availability of electric vehicles in the used wholesale market continues to expand, offering buyers a greater selection than ever before.
"In terms of sold data, we have already received nearly 40% of last year's total sold volume in the first three months of the year. However, BEVs still only make up around 4% of all the sold data we have received this year.
"As the electric vehicle market continues to mature, there could be some further adjustments to come as a number of manufacturers compete on price and try to hit ZEV mandate targets. A continuation of strong new car offers and registration activity is likely to remain and, therefore, may further impact values."
BusinessCar magazine ©2019
Business Car Magazine © 2020 | Business Car is part of NS Media Group.
