News

Used values rose in Nov

Time 1:53 am, December 6, 2011

done28099t-ignore-car-auctions-dealers-toldAVERAGE used car values improved by nearly four per cent in November compared to October, new data suggests.

BCA’s latest pulse report showed the rise was due to ‘well balanced supply and demand’ in November.

On average, values rose by £238 (3.9 per cent) to £6,201, the second highest value on record since the market recovered in 2009.


Most of the increase was felt in the part-exchange sector where values improved by more than four per cent to establish a new record monthly average figure of £2,877.

Values also rose in the fleet & lease sector, but by a more modest 1.4 per cent, while nearly-new models dropped in value by 4.1 per cent, largely as a result of model mix in a very low volume sector.

Year-on-year, November 2011 is a substantial £409 (seven per cent) ahead of the same month in 2010, and £298 (five per cent) ahead of the figure recorded two years ago.


The part-exchange sector saw average values continue to climb as values improved by £113 (4.1 per cent) to establish a new record monthly average figure of £2,877.  Year-on-year figures are ahead by £229 (8.6 per cent). Despite this, the performance against CAP Clean fell from 93.2 per cent to 92.6 per cent.

Average values in the nearly-new sector fell from £19,786 to £18,597, a drop of £829 or 4.1 per cent. Model mix is largely responsible for the changes in this sector as volumes are so low.

BCA’s communications director Tony Gannon said: ‘November provided a relatively strong performance, with a good balance between supply and demand leading to improved used car values in the bigger volume sectors of dealer part-exchange and fleet/lease.

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‘While there was a fall in the average value of nearly-new cars this was entirely the result of model mix, as supply remains short in the wholesale arena.

‘Otherwise, the overall picture remains very similar to the previous month, with healthy demand for Grade one and two cars, but little appetite for cars in Grade four or five condition – unless they are realistically valued to sell.’

James Batchelor's avatar

James – or Batch as he’s known – started at Car Dealer in 2010, first as the work experience boy, eventually becoming editor in 2013. He worked for Auto Express as editor-at-large from 2014 and was the face of Carbuyer’s YouTube reviews. In 2020, he went freelance and now writes for a number of national titles and contributes regularly to Car Dealer. In October 2021 he became Car Dealer's associate editor.



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