Reports from across the industry are indicating that used car prices are falling, with most experts seeing this as an adjustment to more realistic levels after the hot rises during the pandemic.
So it’s a ‘correction’ rather than a fall. Certainly there is optimism that the fall will be shallow and brief.
Cox Automotive’s latest AutoFocus report points to prices sinking and, speaking to Car Dealer Magazine, Cap HPI’s Derren Martin comments that average prices for three-year old cars with 60,000 miles on the clock have dropped this month by 2.1%, as they also did in March.
Some reports say that customers are investing in holidays in the sun rather than cars – and who can blame them?