It would appear that the used car market is starting to find it’s level , BCA are now reporting an average used car value of £8,552 this compares to a staggering high of £12,000 only just over six months ago in September 2021, at the same point last year prices also regularly exceeded 105% of guide. Used values have settled over the last four months of 2022 with guide price performance moving from 99.0% in January to 94.8% in April. With the cost of living squeeze, rising interest rates, energy and fuel price increases and ongoing concerns about the war in Ukraine consumers are tightening their belts, the impact on used car retailers is once again quite unknown. With consumers now buying because of need rather than want this may however push buyers more in the direction of the availability of used vehicles rather than the extended lead times of new models.
The Editor’s View
