BCA stock pic Jan 2022. Steady demand keeps used car values stable at BCA during DecemberBCA stock pic Jan 2022. Steady demand keeps used car values stable at BCA during December


Steady demand saw used car prices stay stable at BCA in December

  • Price of used cars for sale at BCA in December averaged £9,413
  • Value was down on November but up on December 2020
  • Used vehicle prices expected to remain resilient as demand accelerates

Time 8:29 am, January 18, 2022

Used car prices stayed stable at BCA in December thanks to steady demand, said the remarketer.

They averaged £9,413, which was down by £153 – 1.6 per cent – on November, but year on year they were up by £1,103, which was a 13.2 per cent increase.

BCA said it underlined the continued improvement in vehicle mix, as well as the dramatic upswing in used vehicle values.

Meanwhile, its festive sales programme of online sales, held every day from December 27 December to New Year’s Eve, attracted more than 2,500 buyers and sold nearly a quarter more than the same week in 2020, it said.

Stuart Pearson, BCA’s UK chief operating officer, said: ‘Used values remained stable despite buyers becoming a little more selective in early December, with the anticipation of more significant lockdown measures being announced.

‘Perhaps surprisingly, more significant restrictions didn’t follow post-Christmas, and we saw improved levels of activity throughout the festive period, with year-on-year sold volumes rising significantly between Christmas and the new year.

BCA Online monthly average sold value of cars from Nov 2020 to Dec 2021

Source: BCA Valuations

‘We expect that used vehicle values will remain resilient in the coming weeks. The early days of 2022 have seen bidding confidence return and demand is definitely accelerating.’

He added: ‘Looking back at 2021, the dynamics seen in the used vehicle sector were driven by often exceptional levels of demand and amplified by the challenges around new car supply.

‘It’s questionable whether we’ll ever see such a consistent run of rising average values again. However, as the industry continues to go through such significant change, nothing should be ruled out.

‘While the marketplace returned to a more even keel later in the year, the taste for online purchasing and immediacy that many consumers were drawn to during lockdown continued to influence the market, and in particular drove demand for vehicles in ready-to-retail condition.’

John Bowman's avatar

John has been with Car Dealer since 2013 after spending 25 years in the newspaper industry as a reporter then a sub-editor/assistant chief sub-editor on regional and national titles. John is chief sub-editor in the editorial department, working on Car Dealer, as well as handling social media.

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