Stability to return to used car market, says CAP

Car insurance customers in the market for a used vehicle are likely to have more luck finding something that suits now, compared with the last few months.

According to CAP Black Book, the used car-pricing benchmark trade guide, the volatility that had been experienced among motor traders has finally subsided.

Following two months of record high used car values, the second-hand market seeing a gradual return to stability.

A spokesperson for CAP explained: “More volume is expected to enter the market during the next few weeks as confidence among disposers continues to grow.”

Motor insurance customers looking to purchase a vehicle will therefore notice a cooling off on used car values, owing to this impending supply rise.

Meanwhile, brand new vehicle sales have not been doing well over recent months, if the Society of Motor Traders and Manufacturers’ latest round of figures are anything to go by.

The association revealed that overall vehicle production had fallen by 52.1 per cent at the end of the first quarter of this year.

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