The headline average value of a used car sold by BCA rose 7.2% year-on-year in June, according to its Pulse report.
The average age of used cars fell by over 3 months compared to June 2016, down to 53.65 months. Average mileage also fell, declining by almost 3,000 miles to 48,163 miles in June 2017 compared to the same period a year earlier.
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The increase in values was driven by the fleet and lease sector, where values increased to £10,099 compared with £9,669 in June 2016. The ratio of sales value to manufacturer’s recommended price barely changed, recording 41.91% compared with 41.3% in June last year.
The fleet and lease sector saw a slight fall in average age to 38.2 months, and average mileage slipped to 40,429 miles in June 2017, compared to 43,634 miles the year prior.
The part-exchange sector saw little movement on all indicators. Average age dipped slightly to 88.90 months, and average mileage increased by 230 miles to 69,260 miles in June. Part exchange cars sold through BCA saw average values increase to £4,657 in June, compared to £4,507 in the same month 2016.
Nearly-new vehicles dropped almost £2,000 in value, falling to £18,213 in June, down from £20,042 a year earlier, though as usual model mix had a significant impact on this low value sector.
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By GlobalDataStuart Pearson, BCA managing director UK remarketing, said: “Supply is balancing out with demand and conversion rates are showing signs of improvement with buyers continuing to compete strongly for good retail-quality stock.
“It is important to appraise vehicles honestly and accurately as there is little to be gained by placing over-aspiration reserve prices on poor condition cars.”
