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Average used car values up by £154 in July, says BCA Pulse
Date: 07 August 2015 | Author: Daniel Puddicombe
The average price of used cars sold at auctions reached £7912 in July, the monthly BCA Pulse report has revealed.
It is an £154 (1.9%) increase on June's headline value, while year-on-year values are ahead by £206 (2.6%) compared to July 2014.
Used fleet and lease vehicles averaged £9662 in July, dropping by £65 (0.6%) compared to June, the remarketing giant said, however, average values are up by £251 (2.6%) in comparison to a year ago.
BCA claimed that the last six months have wielded the six highest average values on record for the fleet and lease sector, while average values for dealer part-exchange cars fell slightly by £10 to £4268 with year-on-year values remaining ahead by £203
"Sellers have generally been receptive to market sentiment in July, setting sensible reserves that have seen sale conversion rates at healthy levels," said Simon Henstock, BCA's UK operations director. "There is little to be gained by over valuing cars, particularly when there is increasing competition for the buyer's wallet."
