Used car values at BCA edge up in June
Average used car values at BCA rose four per cent in June to £7,568.
Electric vehicles continued to outperform the wider market in the three- to five-year age bracket across the month, while buyer numbers reached their second highest level on record with more than 10,370 unique purchasers.
BCA COO Stuart Pearson said: “We are seeing significant polarisation in demand, with most EVs finding buyers quickly, while average part-exchange vehicles need to be priced very competitively to attract interest. The market’s sweet spot remains the three- to five-year-old sector, where clean, retail-ready vehicles continue to command a significant premium.”
“With the holiday period approaching, the recent heatwave continuing to affect many areas of the UK economy and fuel prices only beginning to ease, auction buyers remain focused on sale sections where vendors are willing, engaged and pragmatic. Demand remains for most vehicles, providing price expectations are realistic.”
Seasonal demand
He concluded: “Some seasonal demand is evident in the market, which is to be expected. What is different, however, is the level of competition around new car activity, which is the strongest we have seen for some time and will inevitably put pressure on certain value segments.
“As remarketers, our role is to work closely with customers, keep them informed with live pricing intelligence, provide access to the widest possible buyer audience, and help them achieve optimum price performance by using every available product and tool.”
