Used car demand still rising
Average used car values at BCA rose above £9,000 for the first time on record in June.
Average prices rose by £835 month on month, equivalent to a 10% increase, although the acceleration of price rises eased towards the end of the month.
BCA COO UK Stuart Pearson said: “There is no doubt that the used car sector has seen some exceptional price movements this year, in the main fuelled by extraordinary levels of demand for the right vehicles.
“While there will always be some nervousness in a market that continues to rise, based on BCA’s current intelligence, it would seem highly unlikely that any significant changes will occur over the next few months. BCA’s Decision Intelligence team continues to work closely with our sellers to ensure that their pricing strategies are realistic and in tune with market sentiment, and that our buyers have everything they need to make informed decisions when bidding.”
