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Used car values remain high despite slight fall, BCA reports

Date: 12 November 2021   |   Author: Sean Keywood

The average value of used cars sold at auction has remained near record-high levels, according to BCA.

The auction company said the average sale price in October was £11,295 - the second highest ever, behind only the £11,817 average seen in September.

Year-on-year, average values are up by £3,143, or 38.6%.

BCA UK COO Stuart Pearson said: "October felt like the first month for a long time, where the market started to behave exactly as it usually would at this time of year. 

"Whilst prices remained resilient, many people took the opportunity to get away which shifted the supply and demand dynamic back in favour of the buyer."

According to BCA, average values remained around £11,700 for most of October, before dipping just below £11,000 at the end of the month.

Pearson said: "The market may have eased back from some of the frenzied activity seen in recent months, however with very little certainty around new car supply, average used car values remain robust. 

"It doesn't feel like it would take a lot to change for the market to reignite, particularly as we move towards the opportunity that the new year presents for retailers."