Average used car values fell slightly in January, says BCA
12 February 2015
Author: Daniel Puddicombe
The average value of a used car sold at auction in January fell slightly to £7955 compared to December's figure of £7903, according to the latest BCA Pulse report.
Year-on-year values were up by 7.7% (£574) with both average age and mileage falling, the remarketing giant said.
Fleet and lease cars averaged £9478 in January, a rise of 3.8% (£352) compared to December, with the average age and mileage remaining similar. BCA said the value against Manufacturers Retail Price improved to 41.2%, up 2.8% (£260) compared to January 2014.
The BusinessCar Awards winner revealed that in January it offered and sold more vehicles than at any time in the firm's history, with record results at its Belle Vue, Walsall, Bedford and London auction houses.
"We have seen a similar pattern over the past four years as volumes rise in January and the model mix changes compared to the very short trading period in December," said Simon Henstock, BCA UK operations director. "Notably the year-on-year figures continue to show substantial value growth, underlining that the improving economy and rising consumer confidence is impacting the used car market as well as the new."