Used car values at BCA hold firm in May
Used car values at BCA averaged £7,510 in May, down by £282, or 3.6%, month-on-month.
Meanwhile, demand for used electric vehicles remains high, with buyers reassured by BCA’s Battery Health Grading, which rates each battery from A-E depending on its condition.
BCA has also reported that sales momentum has continued into June and remains ahead previous June sales levels.
BCA COO Stuart Pearson said: “We are delighted to report another strong month for the used car sector in May with values and volumes well ahead of the same period in 2024. We are now well into that period of the year when the wholesale sector has traditionally experienced some pressure on demand, but over the last two months buyer engagement has remained excellent and stock churn reflects a healthy marketplace.
“We are seeing consistent demand, seven days a week across our nationwide online sales programme and any notion of what used to be prime time, has long disappeared.”
Pearson concluded: “June has got off to a good start across the used car market and we are seeing an uptick in demand, with volumes continuing to be ahead of last year. In traditionally what has been one of the toughest quarters for used cars, the current market is significantly more robust than we have typically seen in previous years.”
