Used car prices 'stable' during 2015

Newly-released figures show that the 2015 market for used car sales was the most consistent in 10 years, according to data from Autorola UK.

The online remarketing group found that the prices achieved by used vehicles only differed by around £200 during the year. It said the average price across 2015 was £8,641 with the age of the average motor being sold standing at 33 months. The mileage of the average vehicle was between 21,096 and 21,512.

Statistics on what is selling and the prices being achieved are useful reference points when you are planning your restocking and marketing approaches. If you are changing the number or overall value of the cars you have on the forecourt, it’s a good idea to check over your motor trade insurance and road risks insurance policies to make sure you are adequately covered.

The figures from Autorola showed there were higher numbers of part-exchanges on the market in both April and October. Over the course of the first three-quarters of last year, the highest average prices were achieved in the second quarter when cars sold for around £8,842, a £201 increase on the first three months of the year. The figure fell back very slightly to £8,838 in the July to September quarter.

Autorola UK’s sales director, Jon Mitchell, said: “In the first three quarters of 2015 used prices were as stable as we have seen them since launching Autorola in the UK 10 years ago.

“Demand and supply were both very consistent right across the year and even when part exchange volumes increased quite dramatically in both April and October after a plate change prices remained very consistent.”

The group reported a rise in average prices in the final three months of the year, when the figure hit £9,360. It said this was due to more prestige brands on the market during this period.