Autorola reports 5% rise in used car values in Q2

Average prices of used cars sold online by Autorola in Q2 2014 rose by just under 5% from Q1 2014.

Average used prices increased from £8,355 to £8,746 on the back of a falling average mileage from 22,262 miles to 21,918 miles, while the average age remained constant at 36 months.

Comparing average used prices from Q4 2013 to Q2 201 reinforces the stability of the used market with prices changing by just £282 from £8,464 to £8,746 (3.3%) during that time.

“Market supply is just about keeping up with demand and this careful balancing act is why used prices have remained stable for such a long period,” explained Jon Mitchell, Autorola UK’s sales director.

“We have seen a slight drop in used volumes at the end of Q2 which combined with a slight fall in mileage helped increase prices.

“Strong demand from our buyer base during Q2 saw our online portal stock fall by around 1,000 units to just over 13,000 units,” he added.