Date: 11 May 2017 | Author: Daniel Puddicombe
The average value of a used car sold at auction hit £9,000 for the first time on record in April, the latest BCA Pulse report has revealed.
According to the monthly report, the headline value has now reached a record figure for the third month running, with values increasing by £240 (2.7%) compared with March's figures.
Year-on-year values, meanwhile, rose by £935 (11.4%) with BCA putting the large increase down to good to levels of demand and stock with low age and mileage.
The average age of vans sold in April is 53 months, five months younger than a year ago, while vans sold last month had 4,615 fewer miles on the clock, on average, compared with those auctioned off in April 2016.
Ex-fleet and lease car vales rose to a record level for the second month in a row, with values now averaging £10,473, while year-on-year figures improved by £574.
Part-exchange car values also hit a high in April, rising by £82 to £4,676, with year-on-year values ahead by £202.
It wasn't all rising values though, as newly new values fell by £168 compared with March's figures, with year-on-year figures down by £2,035, with the remarketing giant blaming the lack of stock on the crash in values.
"While seasonality is less of a factor than it used to be, we still see some slowing of trade as the summer months approach," said Simon Hentock, BCA chief operating officer for UK remarketing. "Post-Easter, potential retail customers often turn their attention to funding the imminent summer holiday, as a result postponing any change of vehicle to later in the year. This naturally impacts in the wholesale sector as professional buyers are more likely to buy to order or simply fill gaps on the forecourt."
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Source: www.bing.com
