Strong demand for luxury cars sees values on the rise
Company car drivers and vehicle leasing organisations are showing a growing demand for luxury and prestige models, new sales figures would suggest.
According to the latest data from British Car Auctions, bidding for cars in the high-end sector has been particularly strong over the course of the past month.
The organisation's UK operations director Simon Henstock said interest is beginning to increase again after a drop off in demand for luxury and prestige cars earlier in the year.
As a result, vehicles such as the 2007 Bentley Continental Coupe and the BMW M5 Saloon have seen an upturn in prices as bidding becomes particularly competitive.
"Interest has been building all year and values have improved notably in recent weeks," Mr Henstock said.
According to Cap's latest edition of Black Book, published earlier this month, second-hand vehicles are still in strong demand from consumers and contract hire companies alike, despite dealer reports to the contrary.
The research revealed that used-car values remained stable in June as the market began to see a better balance of supply and demand.