CAP reports strong used value retention for smaller, greener cars
The company's latest Used Car Price Index also reveals lower used car depreciation this summer than during the same period last year.
The most striking example of improved performance is in the City Car sector, where average depreciation between June and August was just 0.9% compared with 7.5% during the same period in 2010.
Superminis are also holding their value better than a year ago, with average depreciation of 4.1% over the past quarter, compared with 8.3% a year ago. It’s the same story for Lower Medium cars, which have depreciated on average by 3.5% when last year’s figure was 6.4%.
According to CAP, used prices have been bolstered by restricted used car volumes as a result of the collapse in new car registrations over the past three years.
The firm's Mike Hand added: 'With no economic recovery on the horizon it seems certain that smaller and more economical cars will continue to depreciate more slowly than "petrol guzzlers" as running costs overtake image in the priority list for used car buyers.'For more of the latest industry news, click here.