Demand drives up BCA used car values and volumes
Used car values at BCA reached their second highest level of the year in October.
It found that average values were £7,685, which was just £34 down on the average values recorded in September and well ahead of the same period last year.
Meanwhile, sold volumes were up 20% on the same month last year with demand driven by reduced new car supply.
Stuart Pearson, BCA COO, said: “As previously predicted, values remained robust in recent weeks, thanks to significant interest from our buyers supporting our strongest October sold volume on record. While some volume buyers have been a little more cautious in recent weeks, there are no signs that the market is set to drop dramatically, as it did last year.”
He continued:
“Used retail activity remains reasonably healthy and, with many forecourts short of stock as we approach the year end, we expect demand to hold up well during the run into the Christmas period.”
