Values last month averaged £6,502 – a drop of £498, or around seven per cent compared to March this year. The drop, says BCA, can be attributed to both a change in model mix and a rise of volumes within the marketplace – with buyer demand dropping slightly.
Year-on-year values remained strong, however – up 16 per cent on the same period in 2012, demonstrating that a shortage of supply is still an issue.
Nearly new vehicles saw the most significant change on last month, with average values dropping from £21,075 in March to £19,663 in April. Similarly though, values remained strong against last year’s figure – up from £17,917.
Part exchange values, on the other hand, have stayed strong since the initial jump seen in December last year – now £3,595, and still significantly higher than April 2012’s figure of £2,812.
‘Post-Easter, buyer demand has weakened and stock availability has improved with the inevitable result that there has been some pressure on values and conversion rates,’ said BCA’s UK operations director, Simon Henstock.
‘That said, we are still seeing plenty of interest in well-presented retail quality vehicles and here values continue to outperform price guide expectations. The stronger demand at the budget end of the market continues, meanwhile, and values for dealer part-exchange vehicles continue to rise.’