The average price of a used car reached its second-highest level on record for remarketing specialist BCA as demand remained high across its 24 auctions centres and online platform during February.
Cox Automotive has said that sales of used diesel vehicles have continued to contrast those of new diesel cars, despite a year-on-year price rise less than a third of those attracted by petrol counterparts.
Used values rose by a further 1% in February as demand for new cars softens, according to Cap HPI.
Premium used cars struggled to achieve top values at auction as hammer prices painted a “subdued” picture during January, according to the National Association of Motor Auctions (NAMA).
Auto Trader has revealed that the Mini Cooper was the fastest selling used car in January followed by the Fiat 500X.
Used vehicle values rose by 7.88% as BCA auctions processed record volumes of car sales in its auction sites across the UK during January, its monthly Pulse Report has revealed.
Aston Barclay has reported that sales of diesel-powered ex-fleet cars have reached a two-year high value at its UK auction sites – indicating the fuel still holds appeal to traders and consumers.
Auto Trader sees used diesel car prices rise by 3% Used diesel car prices rose by 3% as the average price of a used car rose 6% industry-wide, according to Auto Trader’s Retail Price Index. Despite a fall in the share of searches by fuel-type targeting a diesel vehicle, 71% In November 2016, to an annual low of 53% in January, diesel car sales via the online marketplace generated an average value of £14,405 in last month, compared to the £12,775 realised by the average used car sale. The Auto Trader Retail Price Index analyses data from over 500,000 trade used car listings every day, as well as additional dealer forecourt and website data to deliver its monthly statistics. It said that the £777 increase in the value of a diesel car sold via its platform represented “a promising start for used diesel prices” However, petrol saw a more impressive leap in used prices in January, recording an average price of £10,713, which is a £1,733 jump on January 2017 – representing a 10% increase on a like-for-like basis. Online searches for petrol cars, meanwhile, have steadily risen and accounted for 43% in January 2018, compared to just 26% in November 2016. In January 2018 4% of all fuel-related searches were attributed to alternatively fuelled vehicles, which was no movement from December and a 1% increase year-on-on. Comparing the total volume of AFV searches across the year, the number of searches for AFVs on Auto Trader increased 65% between 2016 and 2017, with electric alone recording a huge jump of 84% in searches. Karolina Edwards-Smajda, Auto Trader’s retailer and consumer product director, said: “With new diesel registrations continuing to tumble, it’s very reassuring to see used diesel prices not only retaining their value, but actually increasing in January. “It’s clear, however, just how harmful the government’s strong anti-diesel stance has been on the automotive industry. “We can see that the misstep in not clarifying the difference between new Euro6 and older vehicles has seriously dampened consumer buying confidence, reflected in both the ongoing fall in new diesel registrations, as well as the searches on our market place.”
Cap HPI has appointed Derren Martin as head of current valuations following the announcement that senior editor James Dower is leaving the business.
The National Association of Motor Auctions has reported that used car prices rose by 2.4% as average mileages fell by 0.8% at auctions during December.
Cap HPI has revealed the scale of the used car it processes is set to reach record levels in 2018, with 68,000 unique model derivatives now on the market.
Cox Automotive reported a strong end to 2017 as average used car prices rose across its Manheim auctions, Dealer Auction, NextGear Capital and Motors.co.uk businesses.
BCA recorded its fourth consecutive record month of used car prices in a monthly Pulse report which showed values had risen by £465 to £9,868 during December.
Used car prices fell by 3.5% as conversion rates declined during November, according to The National Association of Motor Auctions’ (NAMA) monthly car auction data.
Used car prices at BCA auctions rose to a record high for the third month in a row following a marginal 0.4% increase during November.
Cap HPI has acted on its predictions that automotive will be transformed by data usage over the next five years by driving new innovations from its newly-launched Innovation Hub.
An increase in wholesale stock availability and slowing demand has resulted in a seasonal used car price slump in November, according to industry data analysts Cap HPI.
BCA’s has seen used car prices rise to a new record high in October, with values rising 2.7% to £9,364.
The average price of a used car increased 6% year-on-year in October, according to data published by Auto Trader.
Used car prices dipped by 1.2% as the second half of October showed ‘significant signs of a weakening market’, according to Cap HPI.
