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BCA reports rising used car values

Date: 10 December 2018   |   Author: Sean Keywood

The average value of used cars sold at auction during November was the third highest on record, according to BCA, although prices for ex-fleet and lease cars were down.

The auction firm says the month saw an overall average sale price of £9,866 - an £83 increase month-on-month, and a £462 increase year-on-year. 

Fleet and lease sector values fell by £220 compared with October to £11,682, but this was still the third highest average ever seen and a £1,039 increase on November 2017. 

Dealer part exchange sector values also fell during the month, by £46, but the average of £5,289 was still the second-highest ever seen and a £587 year-on-year increase.

Nearly-new vehicle values were up by £482 during November to £24,180, also a £5,725 increase year-on-year. 

BCA COO for UK remarketing Stuart Pearson said: "There were good levels of confident trading activity at BCA during November across all sectors, with both high volume buyers and independent dealers competing for stock.  

"This has carried on into December as professional buyers look to build stock levels for their retail forecourts in the new year.

"BCA has seen values rise steadily during 2018, with professional buyers competing strongly for stock. Underlining this, fleet and lease values have reached record levels six times in 2018, while record values for dealer part exchange cars were set for nine months in a row this year."