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Used car prices firm in Q1, says BCA

Strong activity in the used car wholesale market has kept prices firm during the first quarter of 2006, according to BCA.

Its latest data shows values of ex-fleet/lease cars remarketed at three years/60,000 miles averaged £6,525, a rise of £271 against Q4 2005. In the same period, the value of nearly-new cars dropped by £693 to £11,226, achieving 97.34% of CAP.

“Nearly-new values tend to be the most volatile and, of course, reflect any change in model mix at BCA, but there is no doubt there is substantial appetite from buyers,” says BCA’s spokesman.

Demand is also strong for quality part-exchanges. The average value for cars at 80 months/65,000 miles breached the £3,000 ceiling for the first time since BCA’s research began. Sales achieved 94.8% of CAP.

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