Looks like it’s getting harder to get a used car bargain based on this report.
Ford Ranger and Outlander topping the list.
“The Datium Insights-Moody’s Analytics Used Vehicle Price Index “increased by 35.8 per cent on a year-ago basis in January. This is the highest rate for a series that goes back to 1999. Car prices rose by 33.2 per cent, while truck prices increased by 41.8 per cent. Vehicle retention value, measured as price/MSRP, rose by 34.2 per cent compared with a year earlier. The car component increased by 31.1 per cent and the truck component rose by 39.3 per cent.”
Datium Insights have reported the following results for the past week:
“Prices increased in the first week of February (+4 per cent) with ex-Government cars (+9.2 per cent) leading
Supply was largely flat (+1 per cent) with stock still below par
Clearance rates saw a strong increase (+6.4 per cent) with ex-Council vehicles performing well
Prices for the top 15 traded vehicles were largely positive with the Ford Ranger (+4.7 per cent) and Mitsubishi Outlander (+3.9 per cent) leading increases”