Used car values fell marginally in February as the volumes of cars coming to market continued to rise, according to the latest Pulse report from British Car Auctions (BCA).
The data showed that average values fell by £51 (0.7%) to £7,330 compared to January 2014.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Year-on-year the values rose 3.8% or £274 and built upon the 3.4% rise on the year in January.
The average age of used vehicles sold also continued to rise. Compared to February 2013, the average car was two months older at 62.15 months. Average mileage also increased marginally to 56,994 from 56,341.
Sales versus CAP figures rose to 98.74% from 98.67%
Part exchanged cars, which are typically older than used cars at auction, reached an average age of 88.89 months and a mileage of 73,442. Despite this, the average value rose to £3,797.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataSimon Henstock, UK operations director at BCA, said: "Even though we are reporting some pressure on average values, used car demand remains very strong, particularly for retail quality vehicles. However, as volumes rise, the supply and demand dynamics of the market will change and sellers should be planning for this with their remarketing partners."
