Average car values at BCA returned to normal in October following a spike in September, according to data from BCA.
Used car values averaged at £9,648 at BCA in October in comparison to £10,230 in September.
In October, demand remained “unreasonably” strong during a period usually impacted by rising stock levels and post plate change and the October half-term breaks.
Stuart Pearson, chief operating officer of remarketing at BCA, said: “October was another strong month for used car activity at BCA, with robust demand seen across all market segments. At a time when rising inventory from the September plate-change, along with a spread of October half-term holidays can impact the supply and demand balance, the used car sector remained resilient across all of BCA’s channel offerings.
“Demand is currently very good for this time of year and prices are more stable than traditionally seen as we approach the Christmas period. This is giving dealer’s confidence and in expectation of continuing high levels of used vehicle activity, BCA will be holding a series of special sales across the period between Christmas and the New Year period to support our customers,” he added.
Pearson also said BCA continues to see high levels of people using the BCA Buyer app which has sped up the buyer’s process.
Pearson said: “BCA continues to see exceptional usage of the BCA Buyer app, designed to make it easier for customers to locate and never miss the vehicles that they’re interested in. Since launching under 12 months ago, over 10,000 unique users now make use of the BCA Buyer app and more than 50% of active buyers have used it.
“It is an important part of BCA’s journey to give customers a truly personalised digital experience which supports their business needs whether buying physically or digitally,” he concluded.
In October 2019 fleet and lease values averaged £13,113 at BCA in October 2019, the second highest average value on record for fleet stock. Year-on-year values were up by £211 (1.8%) despite both average age and mileage rising.
Dealer part exchange values fell during October 2019, down by £23 over the month at £5,180. Average values for part-exchange vehicles were down by £155 (2.9%) compared to the same month last year.