Online remarketing specialist Autorola UK believes dealers experienced the most stable used car market for a decade during 2015.
Average prices fluctuated by just £201 between January and September for Autorola customers - at £8,641 in Q1, £8,842 in Q2 and £8,838 in Q3 - with the average age and mileage of used cars also remaining consistent at 33 months and a low of 21,096 miles in Q2 and a high of 21,512 miles in Q1.
“In the first three quarters of 2015 used prices were as stable as we have seen them since launching Autorola in the UK 10 years ago,” explained Jon Mitchell, Autorola UK’s sales director.
“Demand and supply were both very consistent right across the year and even when part exchange volumes increased quite dramatically in both April and October after a plate change prices remained very consistent,” he added.
In Q4 however, Autorola experienced a rise in average prices of £502 to £9,360 which was caused by more high value part exchanges being sold online by their prestige brands which they represent.
Mitchell added: “In quarter four we have seen more £20,000 plus stock being purchased online from our prestige manufacturer brand clients which has explained why average prices increased quite dramatically. When you take those cars out of the mix the Q4 average price was closer to that of the first three quarters of the year.”