The typical cost of used vehicles attained an all-time record, showing the progressive increase of new-car product sales in 2012.
Used vehicle prices achieved new heights in December 2012, with a boost in averaged used valuations of 14.6 % in comparison with the past month.
While in the week the contemporary Society of Motor Manufacturers and Traders (SMMT) revealed a 3.7% boost in new vehicle product sales in December 2012, British Car Auctions (BCA) unveiled its info for the very same thirty day period for used vehicles product sales. Averaged prices attained £7,361, a substantial month-on-month increase of £940 (14.6%) along with the highest regular monthly amount on file.
In contrast to the very last month of 2011, by itself a track record, December 2012 was in front by £910 or 14.1%.
BCA attributes the growth with it marketing a larger percentage of high-value fleet or lease contract and practically new vehicles throughout December, whilst dealership part-exchange of used vehicles quantities dropped within the immediate pre-Christmas time period.
Tony Gannon, BCA’s marketing communications director: stated, “December generally records uplift in month by month prices and this calendar year was no exception to this rule. In reality, records were set up in 2010 and 2011; therefore it should not be a big surprise that December 2012 would set a brand new standard value, especially when factoring in the basic deficiency of stock available on the market.
“Over-all, prices continue to be strong in spite of demand becoming comparatively flat and having less stock has typically meant excellent dividends for small business sellers. This supply shortage is a long lasting problem and it is unlikely to improve until finally new vehicle quantities pick up considerably as well as the economic climate improves enough to develop a larger churn of motor vehicles available on the market.
Gannon also sounded some caution that continuous economic challenges and diminished customer confidence imply that used vehicles are not likely to develop as strongly this current year.