Used Car Values Increase In September

BCA (British Car Auctions) have announced that their average used car value increased to £5,938 in September compared to £5,905 in August.


The rise in value for used cars are due to customer demand, as new car sales have fallen again in September down by 8.9%. This is the second lowest drop since 1999. BCA say that new car sales have fallen, but the lease car section is staying strong.


Simon Henstock, BCA Operations Director said:


“Although September has not seen the big value rises that were typical of the pre-recession era, much of that was due to August being so strong, with many buyers seeking to acquire stock ahead of the anticipated September rush. Even so, prices did improve and the month saw a good level of interest from professional buyers, with conversion rates continuing to climb for many vendors. Sold volumes increased by around 4.5%, with much of that increase coming from the part-exchange sector.”


“With new car sales continuing to be slow, dealers are looking to used cars to deliver profitable retail opportunities. Demand remains high for cars in good, ready-to-retail condition and values for the best examples can outstrip guide expectations by hundreds or even thousands of pounds.”

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08-Oct-2010
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