Average used prices remain stable, reports Autorola
The firm says that the average prices of used cars that it sold online in Q3 fell by just £4 to £8,838 from Q2.
Meanwhile YtD prices fluctuated just £197 between the quarter one average of £8,641 and the Q3 average of £8,838.
The average age of used cars also remained consistent in Q3 at 33 months while average mileages increased slightly from 21,096 in Q2 2015, to 21,325 in Q3 2015.
“Demand has remained extremely healthy across the spectrum from with nearly-new cars up to 12 months old and to 3-4-year-old cars, with dealers buying used cars to keep their forecourts busy,” explained Jon Mitchell, Autorola UK’s sales director.
“This year is yet another when the industry has invested time and effort into further developing their used car businesses and they are being rewarded with increased profitability, on the back of growing sales volumes.
“We expect this healthy used demand to continue into Q4 2015, although December can slow slightly as dealers reduce their stock as they complete their financial year-end,” said Mitchell.