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Used car prices fell in Q1, reports Autorola

Jon Mitchell, Indicata UK’s group sales director

The average prices of used cars sold via Autorola UK’s online remarketing portal fell slightly in Q1 2016, the business has reported.

Average prices were £8,798 compared with £9,360 in Q4 2015.

The average age and mileage of used cars both rose slightly in Q1 when compared with Q4 2015 from 32 to 33 months and from 20,771 to 21,969 miles.

Generally Q1 2016 prices remained stable at the same level as those Autorola experienced in Q2 and Q3 2015, however.

Autorola UK’s sales director, Jon Mitchell, said: “Q1 saw an increase in average age and mileage of used stock being sold on our portal which has impacted prices slightly.

“In Q4 2015 we saw an increase in sales of high value part exchanges which forced up average prices slightly, which in turn has put Q1 prices out of sync.”

He added: “Looking at the bigger picture average used prices in Q1 ‘16 were very much in-line with Q2 and Q3 2015 prices.”

Autorola UK announced the strongest sales quarter in its 10 year history as its 2,000 active buyers bid strongly on its 14,500 strong vehicle stock, meanwhile.

Mitchell said: “It’s good to see more OEMs and dealers using online trade to trade remarketing as part of their overall used vehicle sales activity.

“OEMs and dealers are realising the speed and convenience of online remarketing.”

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