7:07 am, December 20, 2021
Average used car prices stayed stable at BCA last month with well-balanced supply and demand ironing out some of the spikes seen over the past few months.
Latest figures show that used car values in November averaged £9,571, which the auction house said was very much in line with those seen earlier this year and maintained the pattern of consistently higher average used car values that it’s reported in 2021.
Average monthly values were up £1,855 year on year – equivalent to a 19.8 per cent increase, which it said reflected the mix of stock on its online sales platforms.
Weekly figures from BCA Valuations underlined November’s more stable picture, with little movement.
Source: BCA Valuations
BCA UK chief operating officer Stuart Pearson said: ‘November continued the move towards a more stable and familiar seasonal trading pattern across the used sector.
‘Values at BCA remain robust with very little overall movement during the month, and whilst overall buyer-engagement levels have remained very positive, it is clear that many customers are taking stock and making preparations for what many expect to be a busy new year.’
He added: ‘We all remain hopeful that any surge in Covid-19 doesn’t create too many challenges for the industry.
‘However, with the ongoing concerns around new car supply, we will almost certainly see the market kick-start in the new year, and therefore average values should remain robust for some months to come.
‘To help our customers get ahead, BCA has announced an extensive programme of online auctions and Buy Now sales over the festive period to help them prepare for the new year.’
It will be staging its biggest festive sales programme, with more than 15,000 cars and LCVs offered via online auction between Christmas and the new year.
