CarTakeBack are reporting another top month for scrap car prices. The average scrap price for a car in May 2019 was 3% higher than the prices on offer in April. Plus, prices were 37% higher than they were in May last year. Whilst you can never be certain about the domestic and global outlook of the scrap metal market, there are initial signs that the price levels in May could continue.
Further analysis shows us that the majority of vehicles scrapped in May were aged between 10 and 20 years, with the volume being around 15 years old. Interestingly, this was also the average age of vehicle scrapped in May 2018 so no change for once! The oldest vehicle scrapped in May 2019 by the CarTakeBack network was a Rover 110 at the ripe old age of 55! The Rover 110 was part of the P4 series, a group of mid-size luxury saloons, which were in production between 1949 and 1964. The CarTakeBack Scrap Car Price Index is a monthly index covering the last 13 months. The prices are shown as a percentage, using the first month as the base price. The index gives a great indication of the movement in the value of scrap cars from one month to another.
Check out previous scrap car price updates at www.cartakeback.com