Used car values up slightly in February, says BCA Pulse
17 March 2016
Author: Daniel Puddicombe
The average value of used cars sold at auctions in February increased, according to the monthly BCA Pulse report.
The headline value increased by £52 (0.6%) to £7929 compared to prices in Janauary, while year-on-year values were up by £115 (1.4%) with both age and mileage declining.
Ex-fleet and lease values averaged £9662 in February, an increase of £222 (2.3%) compared to the previous month's figure of £9440, while year-on-year values were down by £11. Nearly-new car values, meanwhile, fell by £19 compared to January's figure, while nearly-new year-on-year values increased by just £3.
"BCA reports strong levels of demand in February, with plenty of interest in retail ready cars, but buyers are rather more wary of poorer condition vehicles," said Simon Henstock, BCA's chief operating officer. "Buyers have a lot more choice and vehicles requiring repair and refurbishment need to be sensibly valued to compete."