Supply constraints triggered by the introduction of WLTP have resulted in used car values that have defied the usual season trends, according to Cap HPI.
The vehicle data specialist said that used car values dropped by just 1.5% at three years and 60,000 miles during November, compared to a usual decline of 2.3%, as a result of reduced stock availability and warned “used car supply will almost certainly stay steady in the short-term”.
Cap HPI noted that the used car market had varied between sectors this month, with the value of larger 4x4s only dropping by 0.9%. Small and medium SUVs fell by 1.4% and 1.5%, meanwhile, as drops experienced in the city car, supermini, lower and upper medium were more reflective of the seasonal norm – down by 1.6%.
Vertu Motors Plc (LON:VTU) operates as an automotive retailer in the United Kingdom. The company sells new cars, motorcycles, commercial vehicles, and used vehicles, as well as provides related aftersales services. It operates a chain of franchised motor dealerships under the Bristol Street Motors and Macklin Motors brand names.