Fleet News

Strong demand drives up used city car values in August

Strong demand pushed used values in the city car sector up by 1.3% in August for vehicles at the three years and 60,000-mile mark.

Cap HPI says the Skoda Citygo (2012- ) and Hyundai I10 (2014- ) saw increases of 3.0%, Toyota iQ (09-15) rose 2.9% and Peugeot 108 (2014- ) increased 2.1%.  

James Dower, senior editor of Black Book at Cap HPI, said: “The city car sector is dominated by petrol derivatives and the lower volumes of nearly new vehicles witnessed this year have been a significant factor in their performance.”

Lower stock levels supported values overall in August with the market seeing an average downward movement of only 0.2% at three years 60,000 miles, which compares favourably to a reduction of 0.7% at the same time in 2016. 

Diesel values decreased by 0.6% at three years 60,000 miles, which is a stronger performance than last August which saw values slip by 0.8%. 

Petrol, on average, saw an increase in values of 0.1% which is far stronger than the -0.7% movement witnessed at the same point in 2016, with automatic derivatives proving popular. Petrol hybrid saw significant strength, and average prices moved up by 1.3%.  

Electric Vehicles saw signs of stability with prices only edging back by 0.1% through the month.


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.

Related content

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