Prices for a three-year-old/60,000-mile car averaged £6,625 at auction during the period between April and June – the highest average quarterly value recorded for this type of vehicle in the past 30 months. Year-on-year, the 7.3% rise in value equates to an extra £451 per vehicle.
According to BCA’s quarterly Pulse Report, ex-fleet and lease stock sold for an average of 96.4% of CAP Clean, with mileage of 58,566 and an average age of 37.3 months old.
A BCA spokesman said: ‘These value improvements come about despite the many distractions quarter two delivered, such as Easter, the May Bank Holiday and the football world cup.
‘This indicates that demand remains strong in the used car market.’
The report shows that diesel-engined vehicles continue to enjoy a significant price premium over petrol models, despite generally being sold at a much higher mileage (66,384 vs 49,705). At auction during the quarter they sold for around 7% more than petrol cars.
More detailed analysis of the fleet and lease sector shows that average prices for hatchbacks rose by 2% in quarter two, MPVs were up by 0.9%, saloons rose by 2.5%, convertibles were up 7.2% and roadsters 3.8%.
Only two vehicle sectors showed lower average values – estates were down 1.2% and coupes fell by 3.6%.