The average value of a used car declined by 1.6% at three years and 60,000 miles in December, according to automotive data provider cap hpi, falling less than the 1.8% seen at the same point last year.
James Dower, senior editor Black Book at cap hpi said: “2016 saw relative stability in values when compared to the average movements over the last 12 years, with only January and February showing greater downward pressure.”
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By sector, cap hpi projected city cars to see a 1.9% decline in January 2017, a lower fall than the 2.8% seen in January of this year.
Dower attributed the projected stronger performance of the city car sector to a reduction in pre-registration activity and stock being more in line with demand.
Electric vehicles saw an average reduction of 0.6%, with the Nissan Leaf improving its values by 2.7% at one year and 10,000 miles, and 1.9% at three years and 60,000 miles. Hybrids saw an overall values increase of 2.7% at three years and 60,000 miles.
Dower added: “Retail demand is likely to increase through January and stock will begin to find its flow through the wholesale arena as dealers look to replace sold units and build a more balanced stock profile.”
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