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Used car prices to dip further next month

Dealers are not struggling to find three to four-year-old used cars in the auction halls this month.

Leasing companies have released a significant volume of ex-fleet cars, and plate-change campaign part-exchanges are still available.

Greater availability has led values to fall. Adrian Rushmore, managing editor of Glass’s Guide, believes the decline will slow going into December as some sellers will begin holding their cars until January.

Prices could drop eight or nine percent in December before recovering by three to four percent in mid-January.

Rushmore said the “sticky” cars at present are the ex-demos and pre-registered cars from September, but generally dealers are keeping lower stocks and are in a strong position.

But he warned NFDA members: “In order to guarantee used car business next year everybody is going to have to work harder at getting the cars. There’s no logical reason why retail sales will be higher next year.”
 

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