Dealer-Auction reports a softening in franchised dealers’ part exchange values in March compared to February, with average used car values falling by 3.1% to £3,058.
In March, performance against Cap Clean was 97% with an average 5.1% (£155) profit per vehicle sale.
The picture in the luxury sector was somewhat different. Average values for premium brand part exchanges increased by 4% to £5,652 in March, up by £219 from £5,433 in February. Average profit per premium vehicle was 3.2% (£180).
Gavin Smith, co-founder and director of Dealer-Auction, commented: “Historically, the plate change has affected used car values for the following few weeks. However, desirable vehicles are still generating the selling dealers some healthy trade profits.
“We have also seen an increase in the volume of premium brand models being auctioned, which has pushed average values up from last month. This is largely due to more premium brand dealers recognising the benefits and cost savings made by auctioning higher valued vehicles online.”