High demand for small engine used cars

High demand for small engine used cars

Latest figures from vehicle remarketers have shown a growing interest in cars with smaller engines from business fleets, with many vehicles going for higher than current market values.

Buyers have been clambering for good condition small engine cars on the second hand market over the past few months, with the Peugeot 107 and Hyundai i10 being markedly popular. Many of these vehicles are former fleet cars (now 'de-fleeted') and are so popular that firms such as G3 Remarketing are recording that they are achieving up to 10% more than the current high end market price when going up for sale.

While smaller vehicles are becoming more popular on the used market, the average age is slowly creeping upwards. The average age of a second hand vehicle from fleet sources is now 3 years 4 months, whilst average mileage is currently 46,000 - a bit higher than common values of 12,000 miles per year.

Small engine cars may be proving popular on the local market, but it is the more prestige vehicles that are selling well on the export market. Figures show that vehicles with large petrol engines and higher specifications are selling for much more on the export market than in the past few years.

Online auctions are also proving to be ever popular with the car buying public. Growth of 21% in the amount of second hand cars sold on such websites has been seen over the past year, with around 15% of these thought to be sourced from fleet sources. Financed cars are also thought to make up a good deal of these cars sold online too.

---

---