UK: Second-hand cars in record price drop.
Prices of second-hand cars dropped 19% last month, according to an Alliance and Leicester Car Price Index survey. In this used car category, small cars plunged 21.4%, followed by executive cars falling by 20.7%, with compact executive models depreciating by just over 20%. New car prices also fell last month, on average by about 3.2% in comparison to this time last year. Prices of nearly new cars - the one year-old category - also fell by 16.7 % in the 12 months to May 2000.
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