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BCA reports record used car values

Date: 16 October 2019   |   Author: Sean Keywood

Average used car values hit a new record high in September, according to auction firm BCA.

It says the overall average value rose by £823 (8.7%) compared with August to reach £10,230 - the highest seen since it began publishing data in 2005.

This also represented a year-on-year rise of £349, or 3.5%.

All market sectors saw rises during September, with fleet and lease cars up by more than £1,000 month-on-month to set their own new record at £12,160, and nearly new cars up by £3,438 to also set a new record, breaking the £27,000 barrier for the first time.

The dealer part exchange car average was up by £160.

BCA COO for UK remarketing Stuart Pearson said: "We saw strong levels of trading, confident bidding and record breaking price performance across all selling channels in September 2019.

"High levels of demand and competitive bidding across the range of used stock available at BCA pushed average values for fleet and contract hire and nearly new vehicles to record levels.

"The strong used car market has continued as we enter October and BCA continues to win and retain business and enhance our selling programmes through all our selling channels."