The continuing shortage of stock means that good quality cars are achieving strong prices although the rush of September, where the shortage was so acute everything was being snapped up, has not quite continued.
According to Manheim’s quarterly Market Analysis report, a sample of 87,000 cars sold in the third quarter achieved an average of £6,174, up 3.1% – £600 more than the average price over the equivalent period in 2005. When fleet cars alone were analysed, they achieved £5,167 – £200 more than this time last year.
Fleet and lease cars’ average age was unchanged at 44 months, with mileages down fractionally.
BCA claimed an average 60,000-mile fleet car was also achieving £200 more than the same period last year. Demand has softened slightly from last month to 96.2% of CAP Clean after breaking the 100% barrier in September.
BCA’s Tony Gannon believes the market will be ‘very active’ in the run-up to Christmas as car supermarkets and major dealer groups stock up for the traditional post-New Year rush.