Used car market values 'stabilising'

Wed, 29 Apr 2009
Following a year of "extreme volatility", used car prices are becoming more stable, according to a benchmark trade publication.

The CAP Black Book, which provides a guide to used car pricing, noted that used car trade prices have recovered to similar levels seen in November 2008.

Following Easter 2008, used car values plummeted at the sharpest rate "in memory", then experienced "an unprecedented upturn" in the new year.

In terms of different car sectors, the smallest changes were observed among city cars and superminis, while 4x4s benefitted from increases in value.

The CAP Black Book suggested this increased strength in used car values could be due in part to a shortage of stock, coupled with a decrease in new car sales.

In addition to the Black Book, CAP also publishes the Red Book, which is a used valuation guide for commercial vehicles, and the Green Book - a similar guide for bikes.

Most recently it began publishing the Grey Book, which provides a guide to specialist Japanese imported vehicles.

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