Used car prices fall 1.1% from January, but high compared to last year

Used car prices fall 1.1% from January, but high compared to last year

The United Kingdom has found common selling prices of utilised automobiles fall 1.1% in between the peak in January and heading into March, according to INDICATA’s most up-to-date Industry View report.

Trade buyers have demonstrated tiny appetite to push up charges any even more in the past handful of weeks, when suppliers who have been blighted by extended new auto lead occasions want to avoid pushing costs as well high and danger impacting used car or truck profits volumes.

Even so, Uk employed vehicle price ranges are still 33.2% larger than again in May possibly 2021 when prices began to substantially increase.

The United kingdom utilised auto industry remains small on stock, falling by a further more 3.2% from February into March 2022 and ranges had been 12.9% lessen than a year earlier.

Regardless of a strong need February 2022 made use of automobile product sales fell by 21.4% compared with January mainly because of inventory restrictions.

“We have found selling prices gradual down throughout all sectors of the marketplace because Christmas which these figures back up. Retail demand from customers for made use of automobiles remains pretty solid and stock amounts are small, so it seems bizarre to be reporting a softening of prices,” explained Jon Mitchell, INDICATA UK’s team revenue director.

“There is surely a feeling that the wholesale industry feels prices are near to a ceiling but with new auto output ranges exhibiting no symptoms of enhancing, selling prices could maximize again in the coming months.”