British Car Auctions (BCA) has reported its second highest average monthly figure for used cars at £9,084. The data marks a £122 (1.3%) rise in the headline average value.Th
e figure was £742 higher than the same month in 2016, a hefty 8.89% increase in average values. The average age and mileage profile continue to fall – average mileage declined by around 3,300 miles, although age was only marginally down compared to a year ago.
Stuart Pearson BCA MD UK Remarketing commented, “With inventory stable and good levels of demand across the used car sector, values and conversion rates typically improved for the fleet/lease, dealer part-exchange and nearly new sectors in comparison to July. Reports from managers across BCA’s 24 strong network also bear this out, with both car and LCV sales performing strongly, despite being at the height of the summer holiday season.
”Average values in the fleet and lease sector were stable with a £48 boost in August to £10,534. However the 0.4% rise, did enough to achieve the highest average monthly value recorded at BCA for fleet & lease stock. This constitutes a year-on-year increase of £644 (6.5%). Dealer part-exchange stock was up by £48 (0.7%) to £4,675, £432 higher than 2016, while average age and mileage are little changed over the period.
Stuart Pearson expects the remainder of the year to follow and establish pattern,“With the market now firmly into the second plate change period of the year, activity levels are high across the wholesale sector. Based on previous years’ experience, the market will see volumes peak in October and November with the possibility of a brief period of oversupply when values may come under pressure. Typically, we expect to see prices strengthen later in 2017 as dealers start to plan for the New Year.”
Leave A Comment