Both the country’s largest auction houses are reporting a continuation of the record-breaking start to new year used vehicle sales.
BCA saw record volume and conversion rates last month. It sold more cars and vans in January 2009 than in any previous year.
Buyer demand saw the entry to sale figures climb from just below 80% before Christmas to an average in excess of 90%.
On the last Friday of January, the company recorded a group average conversion rate of 92% - the highest recorded since 1946 when the company was founded.
BCA’s latest Pulse figures show the average price rose for the third month running.
It also reports that average used car values rose by £300 in January compared to December while performance against CAP improved by nearly seven points to record the highest figure in over a year.
The CAP performance of 97.23% was over a point ahead of January 2008.
Meanwhile, Manheim reports that the average wholesale used van sale price was up 5.5% (£140) last month compared with December 2008.
This is the first increase in average wholesale used van prices since September 2008.
“During January there was clear evidence that many dealers were buying for stock rather than just fulfilling orders and as a result auction values and conversion rates improved,” said Alex Wright, Manheim’s commercial vehicle sales director.
“The outlook for February appears positive; the only doubt surrounds the volume of de-fleeted vans coming into the wholesale market over the coming weeks.
"That said any reduction in supply may strengthen current market activity and values further.”
BCA also reports a healthy demand for LCVs.
Its Measham and Blackbushe centres saw “exceptional demand” with Blackbushe achieving sales volume records on three consecutive weeks during January.
In addition, average sales prices for four wheel drive vehicles have improved for six months in a row and used 4x4 values are now at the same level they were a year ago, according to BCA.