Used car prices return to Q4 2015 levels, reports Autorola UK
Average prices for used cars sold through Autorola UK’s online remarketing have returned to Q4 2015 levels, the firm has reported.
Driven by strong demand, average prices increased by £356 in Q2 2016 compared to Q1 2016, reaching a figure of £9,154. This represents only the second time average prices of used cars sold through Autorola UK’s online remarketing portal have surpassed £9,000.
The average age of used cars remained static at 33 months while average mileage increased to 22,615 from 21,969, when compared with Q1 2016 figures. This represents the highest average mileage of used cars sold by Autorola UK since Q4 2014 (22,811).
Jon Mitchell, Autorola UK’s sales director, commented: “Strong demand and another strong month for the quantity of used stock sold has seen prices increase.
“A record number of part exchanges coming into the market have been acquired by trade buyers. This has helped to balance supply and demand, keeping prices buoyant.
“Our used sales and stock volumes on our online portal have continued to grow year on year and visibly during 20 weeks of the year around plate changes,” added Mitchell.