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The headline used value of cars sold at auction dipped slightly in June by £66, the latest BCA Pulse report has revealed.
According to the remarketing giant, the average value of a used car now sits at £8,795, some £597 up on June 2016's figure thanks to steady demand and newer stock available compared to 12 months ago.
BCA said the average age sold at auction improved by three months compared with last June, while the average mileage of vehicles sold declined by around 3,500 miles.
Ex-fleet and lease values declined by £347 compared with May, however, year-on-year values are up by £430 compared with the previous June, to £10,099, as both the average age and mileage of the stock continued to decrease by a month and 3,000 miles respectively.
Part-exchange values remained static compared with May, falling by just £1 during the month, while year-on-year values were ahead by £150, to £4,657 with the average mileage remaining broadly similar.
Nearly-new prices, meanwhile, dropped by £133 to £18,213, with year-on-year values being down by £1,829, with BCA blaming the available stock in the low-volume sector for the fall.
"The summer months typically see some pressure exerted on average values so we are not surprised to see the headline figure fall slightly in June, as it has done in previous years," said Stuart Pearson, BCA managing director of UK remarketing. "Supply is balancing out with demand and conversion rates are showing signs of improvement with buyers continuing to compete strongly for good retail-quality stock."
Pearson added: "While cars presented in the best condition will typically outperform the market, vendors should not expect similar returns for vehicles in poor or below average condition. It is important to appraise vehicles honestly and accurately as there is little to be gained by placing over-aspirational reserve prices on poor condition cars."
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