Retail market stays flat in July as luxury cars make Brexit bounce back
Motors.co.uk saw the average retail selling price of a car sold on its website increase by less than 0.1% in July compared to the previous month, rising slightly to £12,472.
Luxury cars, which seemed to suffer somewhat in the run up to the EU referendum result in terms of selling prices and speed of sale, performed strongly in the retail market in July, with average selling prices rising by 4.4%.
The wholesale market at Manheim’s auctions saw its average selling drop by 3.4% month-on-month, but within that figure the luxury segment saw selling prices up by 6.5%.
While the average wholesale selling price was largely affected by the 3.9% decrease in ex-fleet car values, which fell to £9,822, it was bolstered by a slight rise of 0.5% in the average selling prices for part-exchange stock, which rose to £3,529.
The overall retail, wholesale and ex-fleet car markets all witnessed decreases in the selling prices for both diesel and petrol cars, but for dealer stock, which made up 62% of Manheim’s units sold in July, the average selling price of both diesel and petrol cars increased.