11:38 am, June 18, 2018
DEMAND from buyers continued to keep prices firm at BCA during May, with average values at near-record levels.
The headline average value fell by just £16 to £9,568 in May, with average values up by £707 year-on-year, a 7.9 per cent rise over the 12-month period. May’s average value is the fourth highest on record.
Fleet and lease values reduced 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.
Values increased for nearly-new vehicles, although model mix has a significant influence in this low-volume sector.
Stuart Pearson, BCA’s chief operating officer for UK remarketing, said: ‘Professional buyers have continued to compete strongly for good-quality used car stock, a pattern that reflects the high levels of retail demand that dealers have been reporting throughout this year.
‘The seasonal dip that is often felt at this time of year hasn’t been so significant and the strong demand has driven conversion rates, meaning stock is churning quickly which is good for buyers and sellers alike.’
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