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Strong demand drives up city car values in August

on 04 September 2017

High consumer demand pushed used values in the city car sector up by 1.3% in August for vehicles at the three years and 60,000-mile mark.

According to cap hpi the Skoda Citygo (12- ) and Hyundai i10 (14- ) saw increases of 3%, Toyota iQ (09-15) rose 2.9% and Peugeot 108 (14- ) increased 2.1 %.

“The city car sector is dominated by petrol derivatives and the lower volumes of nearly-new vehicles witnessed this year have been a significant factor in their performance,” said James Dower, senior editor of Black Book.

Lower stock levels supported values overall in August with the market seeing an average downward movement was only 0.2% at three years 60,000 miles, which compares favourably to a reduction of 0.7% at the same time in 2016.

Diesel values decreased by 0.6% at three years 60,000 miles, which is a stronger performance than last August which saw values slip by 0.8%.

Petrol, on average, saw an increase in values of 0.1% which is far stronger than the -0.7% movement witnessed at the same point in 2016, with automatic derivatives proving popular. Petrol hybrid saw significant strength, and average prices moved up by 1.3%.

Electric vehicles saw signs of stability with prices only edging back by 0.1% through the month.

“The key factor leading to the average stability during August was the performance of both petrol and petrol hybrid fuel types. However, a close eye must be kept on the latter months of the year.  Post-September the wholesale market begins to see stock volumes increase dramatically and weaker demand can see the market change quickly.  Our cap live customers will benefit from daily feedback on values,” he said.

Credit: Curtis Hutchinson Motortrader

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