Used car market untroubled by Lockdown 2:0
Average used car values held up in November despite England going into a second lockdown.
BCA reported that average used car values moved by just £166 (two per cent) to £7,986 during the month, and remained ahead of the previous year by 3.5%.
Buyer engagement remained strong with over 5,000 bidders logging in most sale days across the BCA online sales programme.
BCA COO UK remarketing Stuart Pearson said: “We suggested last month that the onset of Lockdown 2.0 could cause some short-term volatility and the early days of November reflected this. However, average used car values and volumes held up well during November.
“The wider used vehicle sector was significantly better prepared for the second lockdown than the first, and customers felt confident to bid strongly for the right stock. It has shown a resilience and strength in depth throughout the period of the pandemic that sees it finish the year in significantly better shape than many expected.”
