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October 2024 Scrap Car Price Update

CarTakeBack has released the latest scrap car price report for October 2024, with the average scrap car price standing at £241. This represents a 2% increase from the previous month, marking a modest recovery from the year’s lowest levels. However, scrap prices are still 11% below where they stood in 2023.

 

October 2024 Scrap Car Price Update p
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The Ford Focus was the most commonly scrapped car in October, with an average scrap value of £268. This price is 11% above the overall average, offering Focus owners an additional £27 compared to the general scrap value.

Top Scrapped Cars in October

In October, the Ford Focus continued to be the top choice for scrapping at CarTakeBack. Among the top five most frequently scrapped models, most saw increases in average scrap values, except for the Ford Fiesta, which experienced a drop. The Vauxhall Astra saw the largest jump, with a 11% increase in value, bringing the average up to £248.

Chart Insights: October Scrap Values by Model

October 2024 Scrap Car Price Update chThe chart illustrates the month-over-month changes in scrap values for the top five most scrapped models, comparing September and October averages. The Vauxhall Astra shows the highest increase at 11%, reflecting greater demand or metal value. The Ford Focus also saw a strong rise at 6%, continuing to hold its position as the most frequently scrapped model. The Ford Fiesta was the only model with a decrease, dropping by 7%, potentially due to a lower demand for its parts or materials.

About the CarTakeBack Scrap Car Price Index

The CarTakeBack Scrap Car Price Index is a rolling monthly indicator tracking scrap car prices across a 13-month period. Updated monthly using data from CarTakeBack recycling centers throughout the UK, it reflects the value of an average scrap car, considering differences in car shapes, sizes, and conditions. This index offers a reliable view of price trends, giving valuable insight into the movement of scrap values month-to-month.

Source www.cartakeback.com

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Owain Griffiths

Owain Griffiths

Head of Circular Economy at Volvo Cars

Owain joined Volvo Cars in June 2021 to lead Circular Economy in the Global Sustainability Team. The company has committed to being a circular business by 2040 and has financial, recycled content and CO2 based targets for 2025, all of which Owain is working across the company to make happen. Owain previously worked for circular economy consultancy Oakdene Hollins where he advised businesses on evidence led circular economy implementation. 

Turning into a circular business and the importance of vehicle reuse and recycling.

The presentation will cover the work Volvo Cars is doing to achieve 2025 but mainly focus on the transformational work towards 2040 and the business and value chain changes being considered. Attention will be paid to the way vehicles are being dealt with at the end of life and the complexities of closing material and component loops. Opportunities and challenges which Volvo Cars is facing will be presented including engagement with 3rd parties and increasing pressure from stakeholders.

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e2e Total Loss Vehicle Management [e2e] is the UK’s only salvage and automotive recycling network with nationwide, environmentally compliant sites delivering performance resilience and service reliability to the insurance and fleet markets.  The network’s online salvage auction www.salvagemarket.co.uk drives strong salvage resale values and faster sales.  e2e’s salvage clients have access to the network’s stocks of over 5 million quality graded, warranty assured reclaimed parts. 

The power of the network model means e2e has the ability to influence industry standards and is committed to continually raising the bar whilst redefining the role and perceived value of the salvage operator.  Network members adhere to robust service level agreements, against which they are audited, in order to ensure performance consistency and a market leading customer experience.  

The salvage and recycling operating environment is evolving rapidly, and e2e is anticipating, listening and responding to changing market needs.  Regulatory compliance, ESG, reclaimed parts, customer experience, EVs, new vehicle technologies, data and reputation risk are just some of many considerations linked to the procurement of salvage services.  e2e will drive further added value to clients and members through the adoption and application of emerging technologies, continuing to differentiate its proposition and position salvage services as a professional partnership. 

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