The drop in values follows a period when limited supply has kept prices high but experts at EurotaxGlass’s, which has predicted the fall, believes the decline was to be expected.
George Alexander, chief commercial vehicle editor at EurotaxGlass’s, said: “It was inevitable that inflated price levels on used stock would eventually need to fall in line.
“Rather than viewing the expected fall as a major setback, it would be better to reflect on how resilient used price levels have proven over the past couple of years.”
Mr Alexander believes the situation is being complicated by manufacturers applying variable discounts according to the trading conditions.
He added: “Manufacturers must remember that to make their wholelife cost propositions stack up, they need to protect strong residual values for late-year stock.”
However, CAP Red Book thinks the sales situation in the used retail markets will stabilise rather than drop, and is still seeing “truly remarkable” results for the best quality stock.
Its July editorial added: “Despite some mixed results in the retail market, believed to be partly due to the onset of the holiday season, coupled with the ongoing shortage of clean, late quality stock and lengthy lead times, overall the market is looking good. Always a good barometer, auctions are well attended and occasionally turning in remarkable results.”