DATA from auctioneers Manheim shows that the rate of used car price falls slowed in August.
Average prices were down 1.7 per cent compared to July, a fall of £103.
But then, prices had already fallen 6.3 per cent in July.
Conversion rates also improved, slightly, in August, for the first time since February. And while prices were generally still falling, there were some exceptions.
Yes, that’s right. Price increases!
Family vehicles were up by 2.1 per cent. Even more dramatically, 4x4s increased too! OK, it was by 1.4 per cent. But this is still £127 up.
Elsewhere, the dealer sector fell by 3.7 per cent, or £67. The previous month, it recorded a 5.6 per cent drop – that’s £106.
Mike Pilkington, MD, Manheim Auctions & Remarketing said: ‘The August market is traditionally a quieter month for wholesale activity and, although there are more positive signs than have been evident in recent months, caution must be exercised in drawing too many conclusions about market stability from one month’s figures.’