The average age of a used ca goes up!

The average age of a used ca goes up!

The average age of a used ca goes up!

CD Auction Group, a reputable online car auction centre has predicted that there will be an increase in the age of the used cars it sells. In 2008 it was 35 months; in 2009 that stretched to 37 months and, in 2010, the average age of cars it sold is 41 months.

Roger Woodward, managing director of CD Auctions said, "You have got to remember that, by mid-2008, many fleets had simply stopped buying new cars. These vehicles should be coming to the used market in 2011 and they would have been the bread and butter of the used car forecourt."

Due to the fact that many fleet operators have been forced to hold on to their vehicles there has been a shortage of good quality used vehicles in the used car market. This scenario has pushed the auction prices of used stock up, with used cars holding their resale value much better.

"There is no doubt there is going to be a continuing shortage of good quality, retailable stock and that means auction values will be strong for the right vehicles." added the MD, Roger Woodward.

Traditionally used car dealers use to buy in a lot of stock during the tail end of December while prices were low and sell them on in the early part of the year when people were happier to part with their cash. This may not be the case this year - all cars purchased before the increase in duty will have to be sold with a 2.5% surcharge, dealers either have to be put up the prices for most of the stock on their forecourt or absorb the 2.5% rise another way.

The manager of a used car superstore in Midlands has told us that he intends to sit on his hands during December and only bid on bargains, most of the new stock will come in from January.

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