Average used car values edge up in April
BCA has reported that average used car values rose to £7,432 in April, an increase of 1.2% on March.
It has also reported that demand for electric vehicles increased noticeably from the first few months of the year.
Growth comes on the back of easing supply constraints around used cars, although the sector remains cautious around overstocking as a result of falling values.
Stuart Pearson, BCA COO UK, said: “Even with pressures at play in the wider economy, April was a good trading month at BCA, with the Easter weeks delivering a new record sold volume for the period. Electric vehicle interest has rebounded after a few tumultuous months of significant price guide moves and is currently the highest converting fuel-type.
“Unsurprisingly for this time of year, there is some caution in the market. The best quality stock that can be retailed quickly continues to attract significant interest, however the vehicles that fall short require close attention.
“The sellers that are closest to the detail around stock condition and real-time pricing, alongside investment in the right-level of pre-sale preparation, continue to attract the most competitive buyer following and achieve the best results.”
