Used values fell in June

Time 10:53 am, July 4, 2012

THE average used car value fell by 2.2 per cent in June compared to May, new data from auction firm BCA’s latest Pulse Report shows.

The firm says the fall was generated by lower sale volumes and values of nearly-new cars, while values in the fleet and lease and part-exchange sectors continued to rise.

BCA’s figures show that average values fell by £134 to £5,964 in June. Despite this, fleet values reached a new high point, averaging more than £8k for the first time on record as BCA sold a slightly richer mix of cars from fleet and lease operators during the month.

Part-exchange values also posted a small month-on-month rise of £27. Nearly-new values fell by nearly £2k, entirely as a result of changing model mix as fewer prestige and executive cars reached the market in June.

Across the board, used cars averaged 96.1 per cent of CAP Clean in June, up by half a point compared to May, while average age and mileage both rose marginally over the month, up to nearly 63 months and 60,000 miles.

Year-on-year, June 2012 average values are a substantial 5.3 per cent ahead of 2011, while average age and mileage have climbed by 6.0 per cent and 2.5 per cent respectively in the same period.

BCA’s communications director Tony Gannon said: ‘The market tends to slow down in the early summer and we have also had a short-term hangover from the Jubilee double Bank Holiday. Volumes are down month on month, and year-on-year for that matter, underlining the shortage of supply reaching the marketplace.’In many ways, this dearth of stock is keeping values high as consumer confidence is still reported to be flat.  According to the CBI, retail activity is subdued and uncertainty over the economic outlook is putting a brake on consumer spending across the whole retail sector.’

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 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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