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Stock supply fear stimulates market and pushes up sales

As expected the average value of sold used cars declined in June, BCA’s Pulse report shows.

Values across the board fell to £5,662 from the £5,790 recorded in May – a £128 decrease and equivalent to a 2.2% fall.

Year-on-year, June 2011 is £140 (-2.4%) behind this time last year.

Sold volumes continued to increase, however, growing by nearly 2% compared to May and underlining that demand remains solid.

Performance against CAP Clean also improved, but only marginally from 94.5% in May to 94.7% in June.

BCA UK operations director Simon Henstock said: “While dealers tell us that retail activity remained slow, the wholesale price adjustments and concerns that stock could be in short supply stimulated the market and sold volumes rose by around 2%.

“We expect the market to remain steady with activity levels likely to increase in anticipation of the September plate change.”

Fleet values continued to decline as they have done since the January peak. Values fell by £278 (3.7%) to £7,071 in June, while CAP performance improved by half a point to 94.75%.

Following a 21% rise last month, sold volumes continued to improve, although by a more modest 3.5%. Year-on-year values are behind by £385 or 5.1%.

The part-exchange sector fell back by £98 to £2,648, the lowest figure since November, when the same average value was recorded.

Year-on-year figures are ahead by £90 (3.5%). Performance against CAP fell marginally to 91%, a quarter of a point behind the figure recorded in May.

The nearly-new sector saw values improve by £557 to £19,578, equivalent to a 2.9% increase.

Model mix will have been largely responsible for the changes in this sector as volumes are so low.

Performance against CAP Clean fell by one and half points to 101%.

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