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High-end cars see trade values rise

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Used car values were down 6.6% on the year in September, but high-end cars defied the overall trend with price gains, figures have shown.

Average trade values of 4X4s, luxury executive models and "supercars" have risen from a year ago despite their lower economy and high car insurance costs, according to CAP's latest Used Car Price Index.

With trade values 7% higher than September 2009, 4x4s emerged as the best performing sector.

Supercars like the Ferrari F430 are trading at 3.2% more, while luxury executive cars such as the BMW 5 and 7 Series are worth 1.8% more than models of the same age and mileage a year ago.

These three sectors are the only gainers in a market which has seen the value of city cars slide 12% year-on-year and that of superminis fall 13.1%. The lower medium segment has slipped by 10% and Mini MPVs are down 10.2%.

Mike Hind of CAP said: "Many dealers have been forced back out into the open market to buy used cars and this demand for stock has stemmed the decline in values. Consumers with a well looked after car looking to trade up to a better one will find some very strong deals on offer in the next few weeks."

© Press Association 2010