Used car values remain strong in August – BCA
BCA has reported a strong trading month in August with average used car values rising to £7,357.
Year-to-date, the average sold value of a used car is £7,660.
Demand for electric vehicles remains strong with record levels recorded again in August and the strongest CAP performance of any fuel type for both the monthly and live product.
BCA COO Stuart Pearson said: “Continuing BCA’s well-established trend this year, we saw particularly strong buyer engagement, rising sale conversions and improving guide price performance during August.
“This was particularly notable as the month drew to a close in anticipation of the new ’75-plate’ on 1 September, with the last week of August achieving significantly higher sold volumes, conversion rates and price performance than in previous weeks.”
Strong September
He continued “We anticipate that the used car market will continue to flourish into September and beyond, as many retailers tell us their stock levels remain lower than ideal and used car retail remains positive.
“With momentum building and September’s plate change now in play, BCA’s online sales programme continues to lead the market with more choice of quality stock from the widest range of vendors, supported by an ever-strengthening buyer base.”
