Stability in used car market likely to last until Easter, says cap
So says cap as it reports that January market conditions were helped by an increase in buyer footfall that compensated for high supply volumes. As a result used values dropped by an average of just 0.5% last month.
Derren Martin, senior editor at cap Black Book, said: “In 2015, the average movement through February in Black Book Live was minimal. Whilst volumes in the marketplace are higher this year, it is still likely that there will be a period of overall stability with regards to prices.
“Newer used cars will be likely to be under more pressure in the coming months – it will be interesting to see how this impacts on older vehicles too, as a reasonable gap needs to be maintained to make them an attractive purchase opportunity.”
Cap says dealers are reporting high levels of nearly new vehicles, and this situation is likely to be exacerbated by December activity in pre-registrations and rental.
It added that convertible values are expected to increase in the coming months, however the weather is a decisive factor.