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Used car market 'buoyant'

The UK used car market remained buoyant through 2006, according to a leading UK auction house.

The UK used car market remained buoyant through 2006, according to a leading UK auction house.

Manheim says the sales remained strong in the last quarter of 2006 - while the wholesale market was particularly healthy in the third quarter of the year.

During the last quarter, sales matched forecast targets and were a good way above corresponding levels from 2005. The percentage retained against the original cost remained at an excellent 39.7 per cent - up 3.2 per cent compared to the same quarter of 2005.

The average value of a used car was £588 higher than it was during the fourth quarter of 2005, standing at £6,200.

The mean age and mileage of used cars in the fourth quarter of 2006 was 39 months and 51,000 miles.

Manheim said that the dealer sector should remain buoyant in the fourth quarter, with strong demand still apparent and prices actually going up.


track© Adfero Ltd

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