The average value of used cars sold at auction reached the second highest level this year in September, according to BCA.
The company said the month’s average of £7,968 represented an 8.3% increase month-on-month, and a 3.2% increase year-on-year.
In addition, BCA said its monthly buyer number hit the highest point on record, while sold volumes and sale conversions also increased.
BCA COO Stuart Pearson said: “Following on from a notably strong performance over the summer months, September continued that trend with record numbers of buyers purchasing stock at BCA during the month.
“Values rose sharply on the back of some exceptional engagement, as buyers continued to compete strongly for stock, delivering the highest average guide price performance recorded so far this year.
“Whilst a lot of the reported new car activity occurred traditionally later than would be expected in September, and there is talk about a minor easing of demand in the first few days of October, this all needs to be taken in context.
“The guide price went up into October and the reality is that the majority of used car retailers remain short of stock. The view is that prices should remain stable over the coming weeks, despite the uptick of volume entering the market.”
