The average value of a used car sold at British Car Auctions (BCA) stood at £8,126 in November, a 0.6% (£134) rise compared to the same month in 2014, according to the BCA Pulse report.
Year-on-year, the average age remained stable at 58.8 months, while mileage fell from 55,098 miles to 53,536 miles. Performance against CAP was up by 1% compared to November 2014, at 96.15%.
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Simon Henstock BCA’s UK operations director said: "While average values remain exceptionally strong, this reflects the development of a two-tier market, where the best vehicles sell quickly for often exceptional values, while the less attractive or over-valued cars struggle to attract the same sort of attention.
"It is important that the less desirable cars are properly appraised and valued in line with market sentiment, otherwise there is a risk they will remain unsold, putting pressure on conversion rates. Volume sellers particularly need to pay attention to this and reappraise and revalue any vehicles that are proving difficult to remarket, rather than simply adhering to a one-size-fits-all pricing strategy."
By sector
The average fleet and lease car value rose by £145 (1.5%) year-on-year in November 2015, reaching £9,848. The average age fell marginally to 39.39 months, while average mileage dropped from 47,257 to 45,038. CAP Clean performance was slightly down at 41.04%.
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By GlobalDataThe average fleet and lease car value was £70 lower than October’s figure.
The average dealer part-exchange vehicle value was £4,314 in November, up £126 year-on-year. Over the same period, CAP Clean performance rose by nearly three points at 96.50%.
The average age in this vehicle category increased from 88.76 months to 89.27 months, while average mileage declined from 71,269 to 70,104.
The average dealer part-exchange value dropped by £87 (1.9%) compared to October 2015.
Nearly-new values fell by £373 (1.7%) month-on-month to £21,776. The average age stood at 7.88 months, while CAP Clean performance was 99.13%.
