CAP says that the rise in volumes, which comes as the UK bucks the European downturn in new car sales, has led to “cherry-picking” of the best stock in the trade, as shown by its Black Book Live real-time valuation trending tool.

Derren Martin, senior editor of Black Book Live, said: ‘As we predicted last month, the status quo for used car trade values appears to be over for the time being, but the fact is that the market has not gone into free-fall.

‘The increase in volume from part-exchanges and fleet car replacement activity has led to prices coming under pressure for the first time in many months. Rather than being alarmed at the return of the all-too-familiar pattern of falling car values we should acknowledge that, with increased volumes in the marketplace and strong new car offers to tempt some buyers out of the used market, total stability was always going to be unsustainable indefinitely.

‘Our view is that this is a short-term phenomenon, with no reason to expect a long-term decline.’

CAP added that no sectors are immune, with even the popular city car segment feeling the strain, while values for SUVs and convertibles are also going downwards having peaked after strong increases earlier in the year.

But Martin said that not all cars are falling in value and the best – especially those which require little investment in preparation for the forecourt – will continue to command CAP Clean values or even higher.