CAP has reported consistent used car price reductions during the past three weeks.
Value movements in Black Book Live have shown reductions from between £75 to £800 for certain models, while a handful of price increases have also been recorded for 4×4 and SUV style cars.
While a market slowdown in November is not unusual, this has been the first month in 2013 when used car prices have fallen significantly.
Derren Martin, senior editor of Black Book Live, said, “Some of the car supermarkets and dealers are already stocking up for January, ready for an expected resurgence of retail interest. It is growth in this trade purchase activity that will determine whether or not the market stabilises over the coming weeks or values continue to fall.
“This has been a very strong year for both new and used car sales and we believe that there is sufficient confidence in the trade to drive greater stocking activity as the weeks go on, so that this downturn may prove to be only a short-term dip.”
