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BCA reports rise in used car values

Date: 15 July 2019   |   Author: Sean Keywood

The average price of used cars sold at auction rose by 2.2% month-on-month in June, according to figures from BCA.

However, the £9,463 average also represented a £178 drop compared with June 2018.

The fleet and lease sector average was £11,372 - an increase of just £2 compared with May, but a £174 improvement year-on-year, with average age and mileage rising.

Values of dealer part exchange cars were up £44 month-on-month and £200 year-on-year, while values of nearly-news cars jumped to £23,481, the highest level so far in 2019 and a £1,071 improvement on June 2018. 

BCA COO for UK remarketing Stuart Pearson said: "The market volatility seen in previous months started to ease as the month of June progressed and created a feeling that more typical seasonal trading was starting to resume. 

"It's been a challenging period for the market, as values have shifted at a significant rate over recent months which has created uncertainty. 

"We've been working closely with our vendors to keep them informed of trading conditions and our unique real-time BCA Valuations pricing intelligence has helped to accurately value stock to sell first time."