Car prices hold firm
Car prices have remained strong despite the latest lockdown.
According to the latest data from Auto Trader, based on the circa 514,000 vehicles advertised on its marketplace in the second week of February, average prices increased 6.5% year-on-year on a like-for-like basis.
It marks 41 weeks of consecutive price growth.
It recorded 14.2 million visits to Auto Trader, which is an increase of 4.5% on the same period last year.
Director of data and insight, Richard Walker, said: “Whilst the current challenges are clear, we continue to see reasons for positivity, and expect to see another period of healthy retail demand once restrictions are eased. In addition to the strong consumer metrics we’re recording on our marketplace, there are a number of key external factors which will help drive strong automotive demand post lockdown. These include positive sentiment towards car ownership, the ongoing aversion to public transport and reduced spending in other retail categories.”
