Members of the newly formed Vehicle Remarketing Association were surveyed during the recent election campaign for their predictions on used car prices in Quarter 2 2010 and felt that prices would fall in the second quarter by up to 10%, following four months of rising values.
Results so far in Quarter 2 suggest these views will largely be realised, as both Glass’s Guide and CAP have indicated that values over the three month period will have fallen by 5.5% and 3.7% respectively.
John Davies, Vehicle Remarketing Association’s chairman, said: “One of the benefits from polling our members is that we are able to instantly tap into a very broad and experienced mindset, all of whom have a major investment in the remarketing sector, either as inventory owners or suppliers of services.
“40 high profile remarketing professionals who are in tune with the prevailing market conditions provided their considered opinion and it’s no surprise we have been proven to be right.” he added.
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