Unrealistic valuations helping to distort used vehicle market, says Glass’s
Fleets “hanging onto” cars and vans in an attempt to achieve unrealistic and inflated valuations are causing distortions in the used car and van markets, say Glass’s. Reluctance to sell below these guide prices, and continually resubmitting vehicles for sale at the same or other auctions, creates a range of problems, said Rupert Pontin, director of valuations. He explained: “Lately, we are going through a phase where we see the same cars and vans presented at auction time and again – and our feedback says that failure to reach book values is the reason.
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