• Car Dealer Plus
No Result
View All Result
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • UCA 2020
  • UCA 2021
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • UCA 2020
  • UCA 2021
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
No Result
View All Result

May faces largest decline in used car values since December 2014

Oliver Young by Oliver Young
May 30, 2019
0
Home News

USED car values fell by 3.1 per cent during May, according to Cap HPI.

The automotive data experts’ findings follow on from April when the market suffered a 2.3 per cent value drop, which Cap HPI states is a ‘significant realignment’.

The average 3.1 per cent decline in May at the three-year/60,000-mile point represents the largest monthly drop since December 2014 and the steepest May fall since live data was introduced in 2012.

Derren Martin, head of UK valuations at Cap HPI, said: ‘Despite the larger than usual book drops, it is important to put this into context following the strength we witnessed last year.

‘The market is complex at the moment, and it’s important to use real-time data to stay aligned to a rapidly evolving situation.’

In percentage terms, mainstream sections such as city cars, superminis, MPVs, lower medium and SUV all experienced value drops in the excess of average.

Diesel cars declined in value by slightly more than petrol ones but electric vehicles also saw values fall.

Martin added: ‘Every model and generation is analysed on its own merits, and the vast majority of cars were not immune to substantial reductions. We have witnessed an almost perfect storm in the last two months.

‘The drop is due to prices increasing in 2017 and 2018, coupled with heavy supply and weakening, seasonally affected retail demand. It has created an unwillingness to pay previous prices, which has resulted in significant declines in a number of cases.’

The average drop in live valuations during June over the past five years has been 1.1 per cent at the three-year/60,000-mile point, with the biggest falls during that time being 1.4 per cent in 2015 and 2017.

MORE: City cars and superminis hardest hit as used car values fall during April 

MORE: Used values drop in sluggish January 

MORE: Demand for used vehicles drops to lowest level in 2018

Related Posts

Vertu Motors boss Robert Forrester
News

Clever technology helped Vertu Motors sell 6,500 used cars in February despite dealership doors being shut

March 5, 2021
Do It 4 Ben – Breakout For Ben
News

Breakout for Ben virtual challenge raises £159,000 towards £1m funding gap

March 5, 2021
VW ID.3
News

There’s something in the air – Volkswagen’s electric ID cars to get updates online

March 5, 2021
Reading Crown Court, via PA, Nov 2020
News

Prestige dealership owner and wife must fork out nearly £60,000 for wrecking listed mansion

March 5, 2021
Nissan Leaf charging on the road
News

Investigation: Incentivising used electric car buyers with govt-backed interest free loans could hugely boost adoption

March 5, 2021
Used Car Prices
News

Exclusive: Find out what the fastest and slowest selling used cars in February were on Auto Trader

March 5, 2021

Want the latest news?

Sign up to Car Dealer's daily news email updates

Subscribe
How many car dealerships does each manufacturer have in the UK? Car Dealerships Locations List 2021 revealed
News

How many car dealerships does each manufacturer have in the UK? Car Dealerships Locations List 2021 revealed

February 24, 2021
Used Car Awards with Mike Brewer and James Baggott graphi
News

Who won what at the Used Car Awards 2020? Mike Brewer reveals our winning car dealers

February 11, 2021
Car Dealer issue 156 front cover and Used Car Awards
Online Magazine

Out now: Car Dealer issue 156 features our Used Car Awards, H.R. Owen CEO Ken Choo and lots more

February 23, 2021
Used car market stronger than ever as August sees sales up by nearly 50 per cent for Big Motoring World
News

Opinion: Here are 10 reasons why I think there’ll be a rapid recovery in car sales when lockdown ends

February 16, 2021
Trophy Cars forecourt
News

Investigation: Meet the hyper-specialist car dealers making their money from weird and wonderful motors

February 11, 2021
Become a Car Dealer Plus member and get more out of this website including free legal advice
News

Become a Car Dealer Plus member and get more out of this website including free legal advice

January 15, 2021
Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK
Car Dealer Top 100

Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK

February 10, 2021
Bitcoin ATM terminal
News

Will car dealers in the UK accept Bitcoin for payment? Dealers speak out after Tesla plans to accept cryptocurrency 

February 18, 2021
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • UCA 2020
  • UCA 2021
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
Call us: 020 8125 3880

© 2020 Blackball Media

No Result
View All Result
  • Car Dealer Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards 2020
  • Used Car Awards 2021
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100

© 2020 Blackball Media

Log In
Register
Register
Server C