The used car market appeared to be stabilising in September and even showed signs of a minor recovery, according to latest data by the BCA.
The BCA’s Pulse data for last month shows average monthly used car sales rose for the first time since May by £47, recorded against August.
Values averaged £4,812 over the month, compared to £4,765 in August.
The new car market recorded its worst volume performance in 40 years in the same month.
BCA’s data showed an improvement against guide values as the average performance against CAP Clean rose to nearly 92% after two months around the 92% mark.
Despite the improvement, it is the third month running the average auction value has been below the £5,000 threshold.
Compared to earlier in the year, values remain down by around £1,000.
Values for fleet and lease cars rose by £71 in September with average part-exchange values increasing by £63.
Nearly new values continued to fall wuth just £8 taken off the average value in September.
LCVs values also fell starting at £3,868 at the start of the year (2008) and falling to £3,190 in September.
- To view BCA Pulse report ezine click here.