8:43 am, August 1, 2008
AUCTION house BCA reports an increasing demand for alternative fuelled and hybrid cars.
This is despite such vehicles often being older and higher mileage at the time of sale.
Volumes of these cars remain small, but values of, for example, LPG cars have consistently outperformed price guides. Often, by a considerable margin, too. In June, such models achieved over 115 per cent of CAP Clean figures.
In contrast, CAP figures for diesel and petrol have declined. Diesel values in June were 92 per cent, 3.5 points down on January, while 92 per cent for petrol was three points lower.
The price premium for diesel over petrol remains around £1000.
What’s more, used diesel has consistently outperformed petrol in terms of performance against CAP, by two points.
BCA communications director Tony Gannon said: ‘There is a groundswell of interest in alternative fuelled vehicles, and this is reflected in the strong performance being recorded against guide values in a market that is otherwise seeing values in decline.’
‘There can be little doubt this is being driven by the credit crunch and rising fuel prices, which are persuading more motorists to try LPG or hybrid electric, perhaps for the first time.’
