Despite this, January 2012 was ahead of the same month last year by 1.1 per cent.
January’s figure supports BCA’s view that December’s record values were influenced by a combination of the shortened trading period, reduced volumes and a richer model mix during the month.
BCA’s report also shows there was a decline of 2.9 per cent in average values in the fleet/lease sector, where sold volumes increased by a significant 70 per cent compared to December.
Part-exchange values surged to a new high point in January – rising 3.3 per cent. It’s the second time in three months that a record value has been established, while values fell by nine per cent for nearly-new models, however, due to a result of changing model mix.
BCA’s communications director Tony Gannon said: ‘Although January has traditionally recorded an increase in average values, 2012 saw the headline value fall month-on-month as was the case in January 2010, which may have been weather related.
‘Despite this, values are up year-on-year and, with reasonably consistent demand, prices should be maintained at an acceptable level over the coming weeks.
‘The rise in average prices at the ‘value-for-money’ end of the market continues unabated and this must be a reflection of the current economic conditions. As household budgets remain squeezed, the increased demand from motorists for affordable transport is driving values upwards.’