Fleets selling on vehicles can expect strong prices to remain in the used vehicle market this year.
The Retail Motor Industry Federation’s Society of Motor Auctions (SMA) said average values should remain strong, but any price growth is likely to be more measured, following the significant recovery in 2009.
The SMA believes auctions will remain the premium source of used vehicles for professional buyers, with a wide and diverse number of volume sellers continuing to choose auctions as their primary channel to market.
“No other channel will offer such a wide choice of stock at every price range in 2010, with many prime fleet, lease, finance and dealer group vendors committed to long-term strategic remarketing programmes with SMA members,” it said.
“The expected shortage of stock – generated by fewer new car retail sales, reduced part-exchange business and fleet-replacement deferments – together with consumer demand for value for money motoring will fuel the used car market this year.
"The SMA expects the cheaper end of the market to be very competitive; in particular sub £3,000 vehicles are expected to be in high demand.”