Autorola UK reports fall in used car prices

The average price of used cars sold through Autorola UK’s online remarketing portal fell in Q4 to £8,983 on the back of a higher average age and mileage.

Average prices fell £228 to £8,983 in Q4 from £9,211 in Q3, with the average age increased to a 2016-high of 34 months. Average mileage also increased to 23,448 miles, the highest average recorded by Autorola during 2016.

“We sold more cars in December than ever before as stock was plentiful and the higher average age and mileage meant used cars were good value,” explained Jon Mitchell, Autorola UK’s group sales director.

“Our 2,000 active dealer buyers were purchasing stock ready for a strong Christmas period and prior to January when prices tend to rise by a few hundred pounds.

“Talking to dealers, they had a good Christmas period and used demand has continued into January 2017.”

During 2016 prices rose to their highest during Q3 to £9,211, while Q1 recorded the lowest average used price of £8,798. Average age of used cars was at its highest in Q4 at 34 months and at its lowest in Q3 at 31 months.