Compared to the same period in 2013, values have soared. The company found that the average price is now 28.9% higher than Q3 2013, equating to an additional £2,462 per vehicle.
According to Autorola, a demanding market place and high quality used stock is influencing rising prices. The average age of an LCV sold via Autorola is now just two years old, with mileages at an average of just 26,937 miles.
‘Earlier this year, we saw prices balloon as lower quality stock flooded the marketplace, pushing the demand for newer, higher quality vehicles. SMEs are growing on the back of a resurgent economy, which continues to push demand and prices,’ commented Neil Frost, Autorola UK’s operations director.
‘However, prices are beginning to level out. This is the smallest quarterly increase we have experienced in 2014, and we believe prices will remain stable in Q4 and into Q1 2015.’
|
Sold Period |
Average Reg/Year |
Average Mileage |
Average Sale Price |
Quarterly price increase/decrease |
|
2013 Q1 |
2010 |
37,450 |
£7,377 |
27.3% |
|
Q2 |
2010 |
32,576 |
£8,040 |
9.0% |
|
Q3 |
2011 |
28,681 |
£8,524 |
6.0% |
|
Q4 |
2011 |
30,502 |
£7,985 |
-6.3% |
|
2014 Q1 |
2011 |
31,927 |
£9,605 |
20.3% |
|
Q2 |
2012 |
26,377 |
£10,513 |
9.5% |
|
Q3 |
2012 |
26,937 |
£10,986 |
4.5% |