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Used vehicle values rise year on year in April 2013

14th May 2013 Print
British Car Auctions

British Car Auctions (BCA) has released its latest Pulse report on trends in the used vehicle sector. In April in the used car market, year-on-year values were up by over 16%. In the commercial sector, where there is strong demand for good quality vehicles, values rose for the third consecutive month to reach a new highpoint.
Across the board used cars averaged £6,502 last month, down by £498 compared to March but significantly ahead of April 2012 by £903 (16.1%). In the commercial vehicle sector the average April figure of £4,998 for all LCVs was the highest on record for any month since BCA began its Pulse Reports in 2005.  Year on year, LCV values were ahead by £727 or 17%.
Commenting on the April used vehicle data, Tim Naylor, Editor of the BCA Pulse Report said:  “Post-Easter, buyer demand for cars weakened whilst stock availability improved, with the inevitable result that there was some pressure on values and conversion rates. That said, year on year values were still significantly ahead of the same month in 2012.  We are still seeing plenty of interest in well-presented retail quality cars where values continue to outperform price guide expectations and in particular, we are seeing stronger demand at the budget end of the market as well as values for dealer part-exchange vehicles continuing to rise.”
In the commercial vehicle sector BCA’s data shows that demand virtually across the board from smaller car-sized vans up to large long-wheel base panel vans helped keep values high.  Condition and presentation remain important, and high mileage may discourage some bidders, but overall average values and conversion rates remain very strong.
“LCV values have been universally strong throughout the first third of this year and are significantly higher than the same period last year”, added Tim Naylor.  “In the current market, the limited supply and levels of demand in the commercial vehicle remarketing sector have seen prices rise.”

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British Car Auctions