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Average used car values rose for the third month running in March, according to BCA.
The auction firm said the average sale price last month was £8,939, a 4.7% increase compared with February.
Sold volumes also increased for the fourth month running.
In addition, BCA said that while the first quarter of the year had been volatile for used EV pricing, many models had levelled out amid improving demand.
BCA UK COO Stuart Pearson said: "There's definitely been a feeling of seasonality for the used car sector since Christmas which has helped to deliver a very positive first quarter performance with rising demand and improving values.
"Given the economic background and continuing pressures on household budgets, it has been a very encouraging start to 2023 across the used car market and one that has, perhaps, surprised some commentators.
"Despite the significant interruptions to new car supply that went hand-in-hand with the initial Covid-19 lockdown three years ago, used volumes have risen this year and we are seeing an improving mix of inventory hitting the market. Demand for any vehicle in good condition remains intense and we continue to see exceptional values across most value sectors throughout our seven-day online selling programme."
Pearson said that the Easter period, which was often a watershed moment for used car values, had seen trading remain very positive.
He said: "While the coming weeks will likely deliver some value erosion to the overall market, we are many months from seeing normalised supply levels.
"Our expectation is that used car values will remain robust for some time to come and we'll continue to work very closely with our customers as the market develops."
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