Richard Brown and Johnny Minter survey used car market predictions and a year of highest-ever values.
There has been mixed commentary from the used sector of late. While CAP said used trade appeared "slower than usual" at the start of 2013, having predicted, in November 2012, difficult trading would last into the year, other valuers have been more upbeat.
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BCA’s record values, overall and by segment, reported for both December (£7,361) and 2012 as a whole (£6,199) came despite average mileage across 2012 rising by 1% to 58,969 and average age by 2.6% to 62.07 months. Manheim, celebrating a record sales week of approximately 9,000 cars, 7-11 January, has spoken of "positive signs" in the market, such as the rise of part exchange average RVs to 18% of new price. The Vehicle Remarketing Association has also reported overall strong demand, particularly for 4x4s and ex-fleet cars in good condition.
Meanwhile, Nissan, has begun the year by offering two years’ free servicing on all used Nissan purchases through Nissan Finance.
However, both CAP and KeeResources have warned of a potential swamping of UK franchised dealers with excess brand stock from Europe, which may hit used values in years to come.
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By GlobalData
