CAP Used Car Price Index shows high-end cars performing best

DESPITE high running costs, the best performing cars in CAP’s latest Used Car Price Index are from three of the least economical sectors. Bucking the economic austerity trend, 4x4s, luxury executive models and so called ‘supercars’, such as the Ferrari F430, are now the only sectors with average trade values higher than a year ago. Strongest performers are 4x4s, enjoying trade values more than 7% ahead of September last year. Supercars are now worth 3.2% more than the same models at the same age and mileage a year ago while luxury executive models, like BMW 5 and 7 Series are ahead by 1.8%. All other car types are now trading for less than their exact equivalents a year ago, with City Cars down 12%, Superminis down 13.1%. Lower Medium down 10% and Mini MPVs down 10.2%. Average used car values across the whole market are 6.6% lower than in September 2009, reflecting a significant market downturn which saw values tumbling from April until September this year. Mike Hind of CAP said: "Despite the weakness in this year’s market suggested by these figures there has been a resurgence in demand among many dealers for used car stock during September. For franchise dealers in particular the diffuculty in delivering new 60 plate cars due to long lead times for manufacturers has stemmed the flow of part-exchanges into dealerships. “This means many dealers have been forced back out into the open market to buy used cars and this demand for stock has stemmed the decline in values. Consumers with a well looked after car looking to trade up to a better one will find some very strong deals on offer in the next few weeks.” ends