Average price of used cars dipped in December, says BCA
08 January 2015
Author: Daniel Puddicombe
The average price of used cars fell slightly in December 2014, according to the latest BCA Pulse report.
The value fell to £8,007, down by £68 (0.8%) compared to November 2014, but the remarketing giant said year-on-year values remained ahead by £434 or 5.7%, with both the age and mileage decreasing
Every month in 2014 recorded a higher overall average value than the same month in 2013, BCA said.
Fleet and lease cars averaged £9126 in December, a fall of £507 (5.2%) compared to November, while the average value was down by £36 (0.3%) compared to December 2013.
BCA said this was down to corporate venders holding back stock for 2015 when values generally increase.
The auction house said the first trading days of 2015 have been "exceptionally busy", and with the numberplate change looming in March BCA said it is entering one of the busiest periods of the year.
"December is a short month for trading and both the market sector mix and model mix tend to change quite significantly. Fleet and lease stock is typically in more limited supply as the year-end approaches," said Simon Henstock, BCA UK operations director.