Used Car Values Increase in December

Jan 19 2012

The average sales value of used cars increased by as much as 4% last month, according to the latest figures from the Retail Motor Index's auction division, NAMA.  The value rose from £4,489 to £5,072, a year-on-year increase of as much as 9% in total, coming from an average figure of £4598.

That being said, NAMA is suggesting that the picture may not be all that it seems.  The figures could be skewed due to the sale of a number of very expensive vintage cars in the month, and also seems to fail to take into account the low volume of sales in December, which is often an issue with the market at that time of the year.  Likewise, while the year-on-year figures seem to be very positive, NAMA feels that it is important to remember that poor weather conditions disrupted trading conditions last year. 

"The market is clearly finely balanced and the watch word to sellers must be to stay very close to the market, be flexible in your decision making and accurate in your reserve setting" says the Chairman of NAMA, Andrew Hulme. 

Automotive experts from PricewaterhouseCoopers have recently warned that car sales in the United Kingdom could be set to fall during the course of this year due to the fact that consumer confidence tends to be impacted upon by the increasing economic downturn being experienced across almost the whole of Europe.

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