BCA reports slight fall in used car values as volumes continue to rise
10 August 2020
Author: Sean Keywood
The average price of used cars sold in July fell by 0.6% compared with June, according to auction firm BCA.
However, it says the volume sold was up by more than 30%, with increased stock matched by increased demand from professional buyers.
The average sale price was £8,517 - a £48 reduction month-on-month.
BCA says it offered a record number of vehicles for sale online in July, including a sale offering on 29 July of nearly 6,300 vehicles, a single day online record.
BCA COO for UK remarketing Stuart Pearson said: "Daily entries are regularly exceeding 5,500 vehicles and demand across most sectors is ahead of what we would typically see at this time of year.
"There is continued interest in higher value, retail-ready vehicles and we are now running weekly Top Car sales featuring prestige, luxury and sporting marques, reflecting the demand from our buyers for this stock.
"Interest remains high for lower value, budget vehicles, maintaining the trend we have seen since the first days of lockdown and resulting in some unprecedented price increases."