Car prices on the up
04 May 2004
New, nearly new and used car prices rose in March according to the latest Alliance & Leicester Car Price Index.
New, nearly new and used car prices rose in March according to the latest Alliance & Leicester Car Price Index.
Produced in association with What Car?, the March Index shows that transaction prices for new cars were up 0.4% compared with March 2003. The average cost of a one-year-old car rose by 3.1% while three-year-old used models were 6.9% more expensive.
Although significant, the increases follow a long downward trend which means that while average new car prices are £44 more than a year ago at £12,417, they’re still £139 cheaper than they were in March 2002.
Falls in new year-on-year prices for city cars, family cars, MPVs and luxury models were offset by increases in every other sector, particularly 4x4s which were up 6.3%.
All cars bar executive models were more expensive in the one-year-old market, while the values of three-year-old cars were strong almost across the board. Only off-roaders showed a dip in this segment with large rises elsewhere led by small cars which were 10.9% more expensive than last March.
Big discounts are still available on nearly every new car on sale, so use What Car?’s Target Price to find out how much you should be paying.
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