BCA’s Pulse shows that used car values increased for the 10th month running in August, taking averages across the board to £6,223.
The rise of £195 over July’s figures represented another 3%+ month-on-month rise and improved slightly on the increase between June and July.
August 2009 set another record for average values. Year-on-year values are now £1,458 or 30.6% ahead of 2008 – reflecting how far values fell last year and how they have recovered.
BCA’s communications director Tony Gannon said: “Stock levels remain relatively low and this certainly has had an effect when combined with the continuing demand.”
The fleet and lease sector added nearly £200 to the average value to £7,575 and outperformed the market average in recording 100.34% of CAP Clean. Budget fleet cars fared better than volume and premium brands, although all segments improved values.
Demand remains high for budget-priced vehicles and values increased in the part-exchange sector for the eighth month running. The average price rose from £2,541 in July to £2,650 in August – a substantial 4.2% rise - with CAP performance remaining above 96% of Clean values.