Used car prices remain resilient in November – BCA
BCA has reported that used car prices averaged £7,345 across the board in November, which is just slightly down on the October average of £7,685.
This suggests the UK used car market is in a very good place considering the time of year and the general outlook remains positive.
Meanwhile, sold volumes remained significantly ahead of the same period last year and, with more than 10,000 different buyers purchasing during the month, the strong engagement levels seen throughout much of 2024 continued.
Stuart Pearson, BCA COO, said: “The used market remained positive in November, with good levels of demand from professional buyers and a steady price performance that reflected the typical seasonal pressures at this time of the year. The overall feeling is that the market is well balanced as the year draws to a close and the anticipation is that 2025 is going to get off to a good start.”
He continued
“Since the pricing realignment experienced in the final quarter of 2023, the used car market has remained positive throughout most of this year, bringing confidence to professional buyers and a level of optimism perhaps not seen for a few years. Prices have been generally stable and the inventory disciplines that have been adopted leave most businesses in good shape to take advantage of the spike in demand that is eagerly anticipated into the New Year.”
