The used car market rallied in August with values rising as supply reduced and professional buyers prepared for the busy autumn period, according to BCA’s latest Pulse report.
Increases in average values were recorded in the fleet and lease and part-exchange sectors, although average values decreased in the nearly-new sector – the latter largely as a result of changing model mix over the period.
As a result, the average used car value at BCA recorded a modest increase to £5,905 in August from £5,784 in July. The rise of £121 was equivalent to a 2% increase over the month, while performance against CAP Clean increased by one and a half points to 96.28%.
Fleet values rose by £155 (2.15%) from £7,180 in July to £7,335 in August – but still were behind year-on-year.