Mr and Mrs Average could come to the rescue says HPI
Although the outlook remains unsettled going into 2009, January saw some used car values go up. The latest HPI Used Car Valuations Index shows that the month-on-month figures for December to January show that on average values are up for all 12 and 36 month old cars. However, the new year usually sees an increase, so the worst is not over yet.
Martin Keighley, HPI’s Used Car Valuations expert explains, “New car registrations were around 2.1 million in 2008, down from 2.4 million the previous year, but a great chunk of these were ‘self registrations’. Stocks of some new and nearly new cars and light commercial vehicles are growing. Expect new car sales to fall to between 1.5 and 1.6 million in 2009, but perhaps the tide is beginning to change for the used car market. Read the rest of this entry »
