Rising used car volumes and demand reported at auction
18 February 2019
Author: Sean Keywood
January saw rising used car volumes matched by increased demand from buyers, according to auction firm BCA.
The company says a rebound from seasonally affected prices in December meant month-on-month values were down across the board, but the overall average of £9,476 was still up by £178 (1.9%) compared with January 2018. This, despite the average age and mileage of cars sold rising over the same period.
Fleet and lease values were up £940 (8.9%) year-on-year to £11,453, with average age rising and mileage falling.
Dealer part-exchange values were up £413 (8.7%) year-on-year to £5,116, with average age and mileage decreasing.
Nearly-new values were up £3,305 (16.7%) year-on-year to £22,985 - although BCA points out that the model mix has a significant effect in this very low volume sector, with brand-specific winners and losers.
BCA COO for UK remarketing Stuart Pearson said: "January was a strong month across BCA's network with rising volumes and strong buyer engagement.
"The used car sector has started the year strongly, with competitive bidding across the board: from high value prestige stock to older, higher mileage budget vehicles.
"January 2019 values followed the pattern seen in previous years and BCA expects to see strong and sustained demand as we approach the March plate change. We are delivering an enhanced sales programme across our nationwide network to support this."