AutoTrader Increased The Price Of The Citroen C5, Why?
Why Did Autotrader Increase the Price of the Citroen C5?
The average price of Citroen C5 on Auto Trader jumped to £18,263 in the last week of September – a huge 20.8 per cent rise year on year.
The famous online vehicle marketplace Auto Trader released sales figures ofSeptember 20 to 26, showing a 1.1 per cent week-on-week upsurge, as the second-hand vehicle market persisted in resisting expectations.
At the end of September, valuation expert Cap HPI advised vehicle owners to cash in on their rides as the second-hand car values continued increasing once again during September. Head of valuations Derren Martin said he couldn’t even estimate the demand for used vehicles.
In Martin’s words: “It’s gone crazy again during September – it’s ramped up again.”
“I hold my hands up when I was on [Car Dealer Live] with James Batchelor. I said it would go up by two per cent this month, so we've cut off our values today, and it's gone up by nearly six per cent – at 5.9 per cent.”
“It’s something like £860 on a three-year-old car in just a few weeks.”
Martin stated he believes the value increases are due to several factors, comprising a shortage of new vehicle availability where customers have to wait for at least a year to get their hands on their cars, as well as some unexpected demand and unintended savers spending money like water.
He stated: “You can now throw in that people go into a dealer to buy a new car to be told, from what we’re hearing, there are 12-month lead times for some cars. There are some cars that have been taken off sale completely, some cars that are just not being produced – and they are volume cars, and it's for the foreseeable future.”
“You can get a used car, but it's going to cost you. In this day and age, if you want something, then you want it now, so that is very much playing into the hands of the used car market.”
Auto Trader’s new data reveals the average duration to trade a second-hand vehicle is now 22 days.
Speaking of the vehicles that are selling like hotcakes, as prices are increasing continuously, the Citroen C5 saw a price hike of £3,833 – a jump of 19.3 per cent year on year.
The second vehicle witnessing a price surge was the Jaguar S-Type at £4,256. It was a 17.6 per cent upswing. The MG3 achieved the third spot, rising by 17.2 per cent to £8,063.
Subsequently, the Honda Accord went up by 17 per cent to £4,408, and the Mercedes-Benz G-Class, with an average price climbing up by 15.2 per cent to £100,898.
Alternatively, some vehicles didn’t perform well on the sales charts. According to Auto Trader’s data, the BMW X7’s value dropped by 19.1 per cent to £70,534, the Audi SQ2 tumbled by 18 per cent to £29,448, and the Lexus RX 400h collapsed in price averagely by 17 per cent to £5,951.
Furthermore, the DS 7 Cross witnessed a drop of 15.1 per cent to £25,549. The Citroen C5 Aircross and its non-Aircross companion both couldn't impress buyers, with the latter dropping 14.6 per cent on average to £21,014.