The latest BCA pulse report found average used car values rose 4.7% during November 2019 to reach £10,101 – the third highest figure on record.
The headline figure was up by £235 year-on-year, equivalent to a 2.4% increase in average values despite both average age and mileage rising.
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This reflects a steady demand from buyers and a well-balanced supply stock from vendors.
Buyer demand was strong for good quality stock with competitive in-lane via BCA Live Online and the BCA Buyer app.
Average values for fleet and lease, dealer part exchange and nearly-new vehicles all rose during November.
Stuart Pearson BCA and COO of UK remarketing said: “There were good levels of confident trading activity at BCA during November across all sectors, with both high volume buyers and independent dealers competing for stock.”
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By GlobalData“With strong demand for stock as we approach the Christmas period and in expectation of continuing high levels of used vehicle activity, BCA is holding a series of special sales across the period between Christmas and the New Year period to support our customers,” he said.
“With both in-lane and online sales being staged between Christmas and the New Year, we are giving our customers the opportunity to purchase from a wide selection of vehicles through the choice of channel that meets their needs, physical, Live Online, BCA Buyer app or Bid Now, Buy Now. We are giving our customers a truly personalised buying experience that supports their business needs,” he concluded.
Fleet and lease values averaged £12,181 at BCA in November 2019, which is the highest average value on record for fleet stock.
Year on year values were up 4.3% despite both average age and mileage rising.
Dealer part exchange values rose during November 2019, increasing by £9 over the month to reach £5,189.
Values for nearly new vehicles at BCA improved to £25,787 in November 2019, the second highest value recorded in 2019.
