British Car Auctions (BCA) has confirmed November average used car values of to £9,404, up £40 (0.4%) on October’s figure, and a record value for the third month running. BCA sold a larger percentage of higher value corporate stock during November than the previous month.
Year-on-year, November values were up by £773 an 8.9% increase in average. Fleet/lease values, and dealer part-exchange vehicles remained at near record levels during the month. Despite this BCA say that seasonal market trends saw some pressure on values for poorly presented, higher mileage vehicles.
Stuart Pearson BCA MD UK Remarketing commented “Buyer demand was good in November and ready-to-retail cars continue to attract the buyer’s attention and churn quickly. Poorer condition, older and higher mileage examples need to be accurately appraised and valued in line with market expectations “
The fleet and lease sector saw an average November value of £10,643, the fourth highest ever recorded by BCA. Year-on-year values were up by £620 (6.0%), as both average age and mileage continued to reduce. Average dealer part-exchange values were little changed at £4,702 during November, the third highest value on record. Year-on-year values were ahead by £103, equivalent to a 2.2% uplift.
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