RSS Feed

Related Articles

Related Categories

Used car values reach record levels in September

4th October 2013 Print

Used car values continue to rise, according to the latest data from leading vehicle remarketing specialist, British Car Auctions (BCA). This comes on the same day that the SMMT has reported the 19th consecutive month of increase in new car sales.
Across the board used cars averaged £7,007 in September, up by £692 (10.9%), year-on-year. The average mileage of vehicles sold at BCA continues to fall – down by around 1,500 miles compared to last year – while average age was static at just under 63 months. 
There were record values achieved in September for fleet & lease stock and dealer part-exchange vehicles as the shortage of used cars continued.    The average value of vehicles sold by fleet & leasing companies rose above £9,000 for the first time on record, reflecting the demand for good quality, ready-to-retail used cars.  Dealers also saw the value of part-exchange vehicles reach record levels, with average values over 20% higher than a year ago.
Simon Henstock, BCA’s UK Operations Director commented “There has been a growing sense of general economic optimism over recent weeks and that feel-good factor has definitely been apparent in the wholesale used car market.  September proved to be an exceptionally strong month at BCA, with average values well ahead year-on-year.   And despite volumes beginning to rise towards the end of the month, demand outstripped supply comprehensively throughout September.
“Early signs this month suggest there will be more choice for buyers in October as more cars reach the wholesale sector as a result of the September plate change.    We are already seeing an upturn in the supply of dealer part-exchanges at BCA, reflecting reports that retail sales have been strong in recent weeks.  However, supplies of fleet & lease vehicles are likely to remain constrained, a consequence of the reduced new car sales to the business sector following the onset of the financial crisis in 2008.”

For more information, visit

More Photos - Click to Enlarge