August’s average used car value is heading for a 2% drop, the largest yet this year, as the market “realignment” continues, says Cap HPI.
Average used car values have dropped by 0.9% so far in June, according to AM’s latest exclusive mid-month update from Cap HPI.
Cap HPI has launched a free new tool for dealerships that will help them more accurately price optional extras on used vehicles.
Average used car prices have dropped by 0.6% so far this month and a total drop of 1.2% is expected for May, according to Cap HPI.
Cap HPI has appointed Derren Martin as head of current valuations following the announcement that senior editor James Dower is leaving the business.
The pace of decline in used values is accelerating, with prices in May falling 1.9% so far.
Strong demand drove up used values by an average of 0.4% in February.
January saw consumers out searching for and buying used cars in large enough numbers for high supply volumes not to be much of an issue.
Used values dropped by 2.6% through November in a predicted seasonal slide, according to data from CAP.
Average used values dropped by 2.2% with an expected seasonal slide, according to the latest figures from CAP.
CAP has reported that volumes of Volkswagen product remain steady in the wholesale market.
Average used car values remained steady in September, moving down by 0.7% at the 3-year, 60,000 mile point.
CAP Automotive is increasing the amount of data is uses to determine used retail pricing as part of an overhaul of its services.
A used car pricing realignment is expected at the end of this year, caused by high and increasing volumes of stock and reduction in values.
