Stock volume will be key to the movement in values for the remainder of the month. September usually sees a significant influx of used vehicles into the general market place with rental and leasing fleets returning to be replenished by the new registration plate. So far, we have not seen this volume arrive and used vehicle retail demand has remained strong for the first half of the month. If anything, we are currently seeing a shortage of quality vehicles which has led to strong sales performances through most channels so far. The average price reduction at 3 years 60,000 miles is a modest 0.3%. There is no doubt that the significant de-fleets will come leading to price erosion as a consequence, with buyers having the ability to be a little more selective. The timing and volume of stock purchase will need to be closely monitored as prices are likely to slip going forwards.
In summary, used retail demand remains healthy, prices are holding well on the back of a slight stock shortage but there is a general feeling that the next few weeks are likely to see volumes and availability significantly increase.
Black book live will report on value movements on a daily basis ensuring a close eye can be kept on the changing market.
