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The report shows that during August the average value of used cars sold at auction across the board decreased -1.5% from £5,595 to £5,512, although this remains 12% above the average price achieved in August 2013.
Overall volumes were broadly flat versus July at 101,944, but up 8% versus this time last year. However, the profile of vehicles has changed, with fewer Fleet profile cars against a growth in older PX profiles in particular, raising the average age of vehicles sold to 83.1 months from 81.5.
First time conversion rates for sold stock continued to improve, albeit at a slower rate, increasing from 79% to 80% and the premium of first time sold vehicles over those sold at second/subsequent entry (on a consistent basket basis) rose to a high of £375, although at 8%, the difference remains around the average expected.
Price changes in August compared to July by age profile
|Late & Low||£14,550||£14,900||2%|
NOTES: Late&Low are cars from: 0 – 2.5 Years
Fleet are cars from: 2.6–4.5 Years PX (young) are cars from: 4.6–6.5 Years
PX (Old) are cars from: 6.6–10.5 Years Budget:>10.5 Years