The average value of a used car sold at British Car Auctions (BCA) stood at £7,872 in April, a 4.6% (£348) rise compared to the same month in 2014, according to the April BCA Pulse report.
Average mileage fell by almost a thousand miles to 54,713 and the average age fell from 61.10 miles to 60.47 miles over the same period.
Although the overall average price fell short of the over £8,000 numbers reached in August, November and December last year, this was down to a change in model mix, as the average values for Fleet & Lease, and part exchange both hit record highs in the month.
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Simon Henstock, BCA’s UK operations director said: "Despite plenty of potential distractions in the form of the Easter Bank holidays and the looming general election, buyer demand was strong across the range of stock on offer at BCA in April, reflecting an underlying confidence from the trade to acquire stock."
The average value in the fleet & lease sector reached £9,700 in April, up 0.7% year-on-year, and £27 more than the previous record high volume, recorded in February 2015.
There was a more significant jump in the dealer part-exchange sector, which grew 9.2% year-on-year to £4,348.
The low volume nearly-new sector improved month-on-month for the first time since December’s £23,075 high. In March 2015 the average value in the sector was £20,218, and this increased to £20,673 in April.
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By GlobalDataHenstock said: "The best grade cars are selling strongly and making good money, while vehicles with a high mileage or requiring work need to be priced accurately to sell first time.
"There is no room for complacency, however, as volumes are higher and retail demand typically softens as the summer approaches."
