Used car prices rise in December
Average used car values at BCA rose by over four per cent to £8,310 during December.
Buyer engagement remained strong with over 5,000 bidders logging in most sale days, while online sales volumes more than doubled during the week between Christmas and New Year compared to the previous year.
BCA COO UK remarketing Stuart Pearson said: “The year ended strongly with average used car values rising and strong demand from buyers into the festive period. 2020 was extremely challenging for everybody and, thanks to the close working partnership between our people, our customers and suppliers, we were able to move forward together and finish the year in a significantly better place than might have been expected.”
Pearson continued: “The market early in January 2021 has been surprisingly resilient considering that we’re in the thick of a third lockdown. Prices remain stable across most sectors which suggests supply and demand are well balanced and the used vehicle sector is adapting to the fast-moving trading conditions. A recent survey of our professional buyers suggests that the vast majority of dealers are using ‘click and collect’ and ‘home deliveries’ to meet the needs of their retail customers, ensuring that demand is maintained in the wholesale sector.”
