Monthly fall in used car values reported by BCA
20 December 2021
Author: Sean Keywood
The average value of used cars sold at auction fell by £1,724 month-on-month in November, according to BCA.
However, the average price of £9,571 still represented a 19.5% year-on-year increase, and saw the market roughly return to the level it had been at up to July 2021, from when the following three months saw a big uplift in values.
BCA said well-balanced supply and demand had ironed out some of the value spikes seen in recent months.
BCA UK COO Stuart Pearson said: "November continued the move towards a more stable and familiar seasonal trading pattern across the used sector.
"Values at BCA remain robust with very little overall movement during the month, and whilst overall buyer engagement levels have remained very positive, it is clear that many customers are taking stock and making preparations for what many expect to be a busy New Year.
"We all remain hopeful that any surge in Covid-19 doesn't create too many challenges for the industry. However, with the ongoing concerns around new car supply, we will almost certainly see the market kick-start in the New Year and therefore average values should remain robust for some months to come."