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Online used car prices stay stable in Q3, reports Autorola

Autorola added that it saw a gradual surge in used car stock coming onto its online platform from the new registration release in September, but prices have remained stable during Q3.

Average prices are 9.2% higher than this time last year, with average vehicle mileages down by over 1,500 miles, compared to the Q3 2013. This suggests motorists and company car drivers are using their cars less or driving shorter distances.

'The last six months have seen supply keep up with demand – just. The result is a very different picture to this time last year, when Q3 average prices fell by 4.0% over the previous quarter,' said Jon Mitchell, Autorola UK’s sales director.

He added: 'September used volumes weren’t as high as expected so demand for good quality used cars continued to outweigh supply, although this is likely to change in October when a large percentage of the September plate part exchanges hit the market.'

Sold Period Average Reg/Year Average Mileage Average Sale Price Quarterly rise/fall in prices
2013 Q1 2010 22,551 £8,552 1.2%
Q2 2010 23,215 £8,334 -2.5%
Q3 2010 23,182 £7,997 -4.0%
Q4 2010 23,452 £8,464 5.8%
2014 Q1 2011 22,262 £8,355 -1.3%
Q2 2011 21,918 £8,746 4.7%

 

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Natalie Middleton

Natalie has worked as a fleet journalist for 16 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.