Europe-wide online vehicle remarketer Autorola
has recorded the average mileage, age and value of its online car
sales in the UK for 2010 and 2011.
The average price for a car purchased online
through Autorola, from a sample of 5,000 sales, in 2010 was £8,131,
104% of the value estimated by used car valuation specialist CAP.
The average car was 30 months old and had clocked 19,719 miles.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The average value held steady at £8,141 in
2011, 103.5% of the CAP estimate, as did the average age of 30
months, though the mileage increased 3.71% to 20,451.
There was discrepancy between the months with
the highest average sales value, August 2010 at £8,894 and December
2011 at £8,644.
The prevalence of online remarketing was shown
recently by auctioneer Manheim which reported
£3m of trade in a single week at the start of 2012 and has
launched
a new tool for vendors to aid with trade online.
Though statistics from British Car Auctions
tally with Autorola’s findings that
December 2011 was a record month for remarketed vehicles, FLA
figures put the average advance on all used car purchases in excess
of Autorola’s average value in both
2011 and
2010, while
a Motor Finance survey of independent finance
providers put the average advance at significantly less than
Autorola’s value.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDatarichard.brown@vrlfinancialnews.com
