The headline value for used cars sold at auction reached record levels in November, the monthly BCA Pulse report has revealed.
According to the remarketing giant, the average value of a used car sold at auction hit £8126 in Novembr, a £134 increase over October’s figures, while year-on-year values were up by £51.
Ex-fleet and lease car values averaged £9778 last month, a fall of £70 compared with October, but is still the second highest value recorded since the Pulse report began, while year-on-year values were ahead by £145. Meanwhile, nearly new values fell by £373 to £21,403 compared to October’s figures.
“While average values remain exceptionally strong, this reflects the development of a two-tier market, where the best vehicles sell quickly for often exceptional values, while the less attractive or over-valued cars struggle to attract the same sort of attention,” said Simon Henstock, BCA’s UK operations director.
He added: “It is important that the less desirable cars are properly appraised and valued in line with market sentiment, otherwise there is a risk they will remain unsold, putting pressure on conversion rates.”
