Strong start to 2021
Average used car values at BCA rose for the second month running in January.
Average used car values improved by £154 to £8,464, the third highest monthly average value recorded since the onset of the pandemic.
BCA COO UK remarketing Stuart Pearson said: “While it hasn’t been the January that most in the industry would have hoped for, performance has been solid across most sectors and BCA has seen record numbers of buyers joining our online sales.
“We’ve seen particularly strength in the dealer part-exchange and top car sectors, which echoes back to the buying trends we reported on during the first lockdown. However, the difference in the current lockdown is the sheer volume of buyers who are trading safely and in line with government legislation.
“The restrictions imposed by the third lockdown have inevitably impacted retail demand. However, as long as sellers follow the remarketing basics, there is a ready audience of buyers for the widest range of stock. It’s not the frenzy that we would usually see at this time of year, but supply and demand are well balanced and there is a level of pragmatism in the market that is keeping the wheels turning.”
