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Used car market 'remains stable'

Used car market 'remains stable' Image

The market for used cars is looking stable at present but with a notably strong performance among de-fleeted business cars, the Vehicle Remarketing Association (VRA) has suggested.

It said de-fleeted business cars sold well throughout May and June, achieving sales at an average of around 97% of CAP Clean values, which is a valuation tool used by the industry to ascertain used car prices.

The market for used light commercial vehicles was referred to as "buoyant" by the VRA, with reported 100% Cap Clean average prices.

In its May/June update, the VRA said there was "a good, steady balance of used stock... consistently entered for sale, which has helped fleet vendors... report healthy conversion rates as well as consistent prices."

Meanwhile, auction house BCA reported a 2.3% improvement in used light commercial vehicle values in May, although it issued a note of caution that buyer confidence remains fragile so sellers need to ensure their vehicles are in tip-top condition in order to attract a buyer.

Extended Warranty  27/06/2012 17:00:00

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