British Car Auctions’ (BCA) Pulse report has
recorded a highest-ever average used car value of £6,451 for
December 2011, up £250 on the previous month, and £546 (9.2%) up on
December 2010.
BCA attributes this rise in part to lower
stock and the relatively short trading window in December, although
suggests the 8% rise in values across November and December
demonstrates increased competition in the second-hand market.
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As with
new car sales figures from the Society of Motor Manufacturers and
Traders, much of the market strength lies in fleet and lease
sales as the average value reached its highest point since January
2011 of £7,658, a rise of £270 (3.6%) on November.
Part-exchange values fell by £53 (1.8%), to
£2,824 on average, from November’s record price, but were still
£119 (4.4%) ahead of December 2010, making it the third-highest on
record. BCA also noted that vehicles were now being part-exchanged
with an average 1,000 miles more on the clock.
Average values in nearly-new cars rose 5.3%
from £18,957 to £19,963, which BCA put down to the model mix in a
very low-volume sector and several one-off sales events held during
the month.
richard.brown@vrlfinancialnews.com
