The city car and supermini sectors outperform seasonal trends in January as average values rose by 0.8% and 1.2%, respectively, at three years and 60,000 miles.
The analysis by automotive data and technology experts cap hpi also showed that demand for electric vehicles pushed prices up by 0.6% at three years and 60,000 miles. Overall prices reduced by 0.2% at three years 60,000 miles which is stronger than the downward movement of 0.6% experienced in January 2017.
Commenting on the trend James Dower, senior editor of Black Book at cap hpi said: “The New Year usually sees an upturn in retailer activity which then translates to a more buoyant wholesale market. Much of the strength in values can be attributed to the easing of new car pressure compared to the start of last year and the greater focus on used cars expected throughout 2018.”
Average petrol values continue to be strong. Overall, at three years 60,000 miles, petrol values increased by 0.1% and diesel values decreased by 0.5%. The market is 0.4% stronger than that experienced through January 2016, and both petrol and diesel averages matched that movement.
Dower said: “Price performance of alternative fuel vehicles (AFV) reflects greater consumer acceptance of technology outside of traditional internal combustion engines. The trends that have developed for both electric and petrol hybrid derivatives over the last year or so have certainly been illustrating strength in demand. It’s an encouraging sign for future values as we are likely to see increasing volumes of AFV’s appear in the used car market throughout 2018.”
