Fleet News

Car list prices show most dramatic fall yet

NEW car list prices have shown their most dramatic fall yet, according to the latest figures, while used car prices are demonstrating their best performance for five months. The CAP Index, which monitors new and used car prices, showed a year-on-year reduction of 1.7% for new cars in October.

The cuts were concentrated among executive and prestige cars, which showed a 5.2% reduction on the same month last year. Other significant falls included sports cars at 2.3% and upper medium family cars at 1.9%, but buyers waiting for significant cuts in supermini prices will have to wait longer, with the segment showing a rise of 0.3%.

CAP Motor Research senior economist Ramesh Notra said: 'Executive cars have fallen twice as far as any other sector.

'The values of used executive models have stabilised however, which reinforces the view that they will not be affected by new car price cuts, being too distant from list price to move accordingly.'

Meanwhile, the fall in used car values is slowing, as October saw a year-on-year decline of 7.7% - the smallest fall for five months at a time when trade normally slows, putting increased pressure on values.

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee