Car price fall in April

The average price of a new car fell in April according to the latest figures from Drivendata, the first time they have fallen since December 2010.

Last month the average price of a new car stood at £28,159, down 0.092 per cent from April 2010 when the average price stood £25 higher at £28,184. The fall may only offer short-term relief for car buyers as DrivenData’s figures reveals that longer term trends indicate average new car prices are on the increase, with annual prices since April 2010 increasing by 4.432 per cent or £1,194.99, from £26,964.01 to £28,159.

Nonetheless the figures show that prices have dipped three times during the past 12 months besides last month’s performance, including a 0.120 per cent in December 2010, 0.073 in November 2010 and 0.317 per cent in May.

The underlying pace of inflation in car prices has slowed down over the past 12 months though to 4.432. It rose by 5.559 per cent between April 2009 and April 2010.

Author: Faye Sunderland, May 16th, 2011
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