Record used car prices reported by BCA despite overall slide
18 May 2018
Author: Sean Keywood
BCA has announced new record values for used cars sold at auction.
The firm says that during April average fleet and lease values rose to £11,137 - the highest to date - while dealer part exchange prices also increased to reach £5,000 for the first time.
Values also increased for nearly-new cars, although BCA says model mix has a significant influence in this low volume sector.
Despite the increases, the overall average fell to £9,584, a 0.8% drop compared with March, which BCA said was caused by a changing model mix as dealer volumes increased.
Year-on-year average values were up by £494, or 5.4%.
BCA's COO for UK remarketing Stuart Pearson said: "Buyer demand was high and conversion rates stayed strong in April, despite the diversions of the Easter holidays and some unseasonably poor weather.
"Professional buyers remain very active, reflecting the strong retail demand that has been widely reported.
"Whilst demand traditionally softens into the summer months, we are continuing to see inventory, attendance and bidding activity at increased levels and therefore we anticipate that average values will remain stable, driven by the high quality of stock that we offer."