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.'
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