The average value of a used car increased 12% year-on-year to £5,512 in August, according to the National Association of Motor Auction (NAMA).
Month-on-month, this was down 1.5%. Overall volumes were broadly flat compared to July at 101,944, though this number was up 8% year-on-year.
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First time conversion rates for sold stock continued to improve, up from 79% to 80%, while the premium of first time sold vehicles over those sold at second/subsequent entry rose to a high of £375.
By segment
Month-on-month, nearly new cars up to 2.5 years old increased in price 2% to £14,900. Fleet increased 1% in value to £8,625.
Young part exchange vehicles shrank 1% to £5,175, while part exchange vehicles older than 4.6 years remained flat at £2,550.
Budget vehicles or those over 6.6 years old also remained flat month-on-month, at £775.
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By GlobalDataNAMA noted that there was a growth in the number of older part exchange vehicles sold and fewer fleet cars sold, raising the average age of vehicles sold from 81.5 months in July to 83.1 months in August.
Looking ahead, the association predicted September would be "an active month for all."
