Used car market holds steady in October despite slight value drop

The used car market remained resilient in early October, with average values falling by just -0.5% in the first 10 days, according to the latest data from Cap HPI.

Projections suggest a more modest total decline of -1% by the end of the month, compared to an average October drop of 1.6%. Last year saw a sharper -4.2% decrease over the same period.

Despite an uptick in supply since September, there is still a noticeable shortage of three- to four-year-old vehicles, keeping demand relatively stable.