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February's average used car values softened by £51 compared with the previous month, but are still ahead by £274 year-on-year, according to auction leader BCA.
The company also confirmed that volumes were still increasing. "Volumes rose in February and we expect to see that trend continue over the coming weeks," said BCA UK operations director Simon Henstock.
He added that March's registration plate change would help drive activity, aided by an increased mix of part-exchange, fleet and contract hire vehicles entering the market.
"Used car demand remains very strong, particularly for retail-quality vehicles," he said.
This view was echoed by the Cap vehicle valuation operation.
"The increase in wholesale used car volume has been balanced by a continued strong retail appetite for used cars as the economy continues to pick up," said Cap Black Book Live senior editor Darren Martin.
He said that there had been a rise in lower-mileage younger cars, suggesting that an increase in pre-registrations could be behind this.
Roger Woodward, managing director of online remarketing firm CD Auction Group, said that in the immediate future, the used market would be driven by retail buyers wooed by plate-change new car deals.
"We would expect numbers to pick up towards the end of March and through into April," he said.
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