Used Car Prices

The used car market is showing some signs of improvement after prices for three-year-old cars fell by a record five per cent in June and by the same amount again in July.

A 3.5 per cent reduction was tracked in August, and the indications were that this rate of fall slowed still further during September. In the case of some small cars, prices started to edge upwards.

Price trends vary according to segment. There has been a wide range of movement – from little or no change for small cars, to reductions of seven per cent for some out-of-favour off road 4x4s, large MPVs, large-engined executive cars, and out-of-season convertibles.