The used car sector displayed some traditional seasonal pressures in April, as average values fell by 7.0% from March’s high point.
Values averaged £8,316 at BCA in April 2023, down by £623 compared to March 2023, largely due to the combination of the Easter holiday period, a changing mix of products at the wholesale level and a slight softening of retail demand as pressures on household budgets continued.
The month-on-month decline in April 2023 was less pronounced than that recorded between March and April 2022 when values fell by 9.3%.
BCA UK COO Stuart Pearson said: “We discussed the elements of seasonality last month and that has been further highlighted by a very typical April marketplace in terms of demand and price performance.
“Buyer interest for good quality stock continued as it has all year, while professional buyers were a little more cautious in their bidding on older, higher mileage stock or any vehicle that required a little more preparation before being retailed.”
He added, “The Easter holiday break is often a watershed in demand, particularly at the retail level, as families tend to turn their focus towards budgeting for the summer vacation, but BCA is confident that the used marketplace will remain relatively robust over the coming summer months.”
More used car dealers say stock supply is an issue than at any time in over a year