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BCA reports stable used car market

Average values of used cars sold at auction remained at near-record highs during May, according to BCA.

The auction firm said demand from buyers continued to keep prices firm, with the headline average value of £9,568 representing a fall of just £16 month-on-month, and a £707 rise year-on-year, with the latter figure a 7.9% increase.

May’s average value was the fourth-highest on record.

Fleet and lease values fell marginally from last month’s record level to £10,963, still the third-highest point on record, while dealer part-exchange values remained at a record high of £5,000 for the second month running.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.