Fleet News

Used car values rise... again!

USED car prices have increased for the 39th consecutive month as demand remains strong. Prices are currently 7.9% higher than this time last year according to used car experts at CAP Black Book and the upward trend looks set to continue, despite the recovery in the new car market.

Used values increased by 5.8% in March, 6.4% in April, 7.0% in May and 7.1% in June as a combination of continuing strong demand and occasional patchy supply helped prices strengthen further despite the holiday period getting into full swing.

CAP's chief economist Mark Cowling said the quickening of the pace of price rises cemented the recovery in used car values which has now continued for 39 successive months in the important three-year-old car market. 'Prices have continued to be strong in most sectors,' said Cowling. 'Even in areas where supply has improved from often poor levels, consumer demand has so far matched it.

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