BCA reports jump in used car values as lockdown eased
26 April 2021
Author: Sean Keywood
Average used car prices rose by 15.8% in the week after restrictions on non-essential retail in England were lifted, according to BCA.
The auction firm said there was a £1,223 average sale price jump, to £8,946, in the week after 12 April, the date on which car showrooms were allowed to reopen.
Sold volumes were also up, by 17%, and BCA said conversion rates had also improved.
The bumper market for sellers saw the average price paid for corporate cars reach its highest point this year, up by 2.2% to £12,337.
Dealer part exchange car values were also up, by 10%, to £6,256 on average.
BCA COO for UK remarketing Stuart Pearson said: "The lifting of some lockdown restrictions, the continued good news about the vaccination rollout and the cautiously improving economic outlook has generated a lot of positivity in the used vehicle sector.
"BCA's model provides incredible insight into how the market is operating and it's clear that there has been a noticeable increase in confidence and demand, demonstrated by the numbers of joiners, watchers and bidders to our online channels."