BCA reports modest rise is used car prices
Average used car prices were up £11 from March to April across BCA’s online sales platforms.
It has reported that sales values rose to an average price of £7,792 in the month, with quarter one prices averaging £7,777.
However, sourcing stock continues to be a key challenge for retailers, many of whom have reported difficulty finding the right cars to meet customer needs.
BCA chief operating officer Stuart Pearson said: “April felt like another solid month across the used car sector with performance and volumes well ahead of the same period last year. While the intensity in the market has eased from earlier in the year, the best stock remained well fought over and buyer engagement remains at record levels.
“Condition and desirability are becoming more critical. There’s growing pressure on vendors to price realistically if they want to maintain conversion rates.”
Summer lull
Looking ahead, he warned that the May Bank Holidays and the usual early-summer lull could further strain retailers.
He said: “With some seasonality now impacting, any vehicle in poorer condition as well as some of the less-desirable repeat model vehicles, came under more pressure than we’ve seen for a while.
“What remains clear, is that there’s still a home for every vehicle and buyers continue to follow the decisive sellers that value stock competitively and are pragmatic with their expectations.
“The run towards the summer can put pressure on the market, but there’s a level of optimism that suggests with a little extra focus, it should be very possible to maintain the momentum that the used car market is experiencing.”
