The survey found that just 3% of fleets expected no change, while 10% thought prices would fall 5%, 30% expected a 10% fall, a further 29% expected a collapse of 15% and a quarter of fleets predicted a 20% fall. The survey, carried out before most manufacturers reduced their list prices, also showed that nearly 60% of fleets expected a 5% to 10% fall in new car prices.
Author Professor Peter Cooke revealed the findings as the Alliance and Leicester New Car Price Index forecast a new era of stability for new and used car prices. The index showed a year-on-year fall of 10.4% in December, equivalent to the fall intended by the Supply of New Cars Order 2000. The report also showed an average fall of 4.5% in the value of three-year-old/60,000 miles cars.