The biggest falls, according to the CAP Index, are in sports cars (down 11.2%), executive cars (down 8.6%) and 4x4s (down 8%).A CAP spokesman said: 'This reflects an even greater priority placing on economical motoring, particularly by used car buyers.'
Bucking the trend slightly are upper medium sector cars (down 2.6%), which are currently depreciating most slowly. But, said the spokesman: 'This represents a typical natural market adjustment following previous big declines.' Elsewhere lower medium sector cars value have tumbled 4.3% and superminis are down 5.1%.Meanwhile, three-year-old used cars have fallen by up to 13.9% year-on-year, according to the monthly survey issued by the Alliance & Leicester. Average used car prices for three-year-old cars fell 5.7% from October 1998 to last October, according to the latest price index published this week.