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Yearly fall in used car values reported

Date: 23 September 2019   |   Author: Sean Keywood

The average value of used cars sold in August was down year-on-year, according to auction firm BCA.

The headline figure of £9,407 represented a £290 fall compared with August 2018, although it was £254 up on July 2019.

Values in the fleet and lease sector, at an average of £11,116, were down both month-on-month (by £178) and year-on-year (by £107), which BCA has attributed to rising vehicle age and mileage.

The average dealer part exchange value was £5,043 - a rise of £34 month-on-month, but a fall of £22 year-on-year, with slight falls in average age and mileage.

Values of nearly-new vehicles hit their highest average this year at £23,868, which was a £1,762 increase compared with July, although still a fall of £1,165 compared with August 2018, with BCA highlighting the significant effect of model mix in this sector.

BCA COO for UK remarketing Stuart Pearson said: "We've seen the market continue to strengthen during the month with good levels of trading, confident bidding and relatively strong price performance across all selling channels."