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Used car values up another £215 in October

Average used car values have continued to climb throughout October, according to BCA.

The headline average value of a used car rose to a record level for the fourth month in a row, climbing by £215 (2.5%) to £8,591.  Year-on-year, the headline figure was up by £599, equivalent to a 7.5% increase in average values.

Fleet/lease values increased by £219 to a new record of £10,236, while average dealer part-exchange values rose by £91 to a new highpoint of £4,644.   Nearly new-values fell during the month, but model mix in this very low volume sector has a significant impact on average values.

Simon Henstock, BCA chief operating officer for UK Remarketing, said: “While October returned record results for the fourth month running, rising average values are not the whole story.  Volumes have climbed in recent weeks and there is a two-tier market developing.  Ready-to-retail cars continue to attract the buyer’s attention and churn quickly, but poorer condition examples need to be accurately appraised and valued in line with market expectations if they are to be sold first time.”

Looking at the average price performance by model shape, values for volume stock showed increases across the board.   With the weather starting to turn, convertible values fell back and, as predicted last month, 4x4 values rose in line with the onset of colder conditions.  

 

Body Type (All cars sold BCA Oct)

Ave Age

Ave Mileage

Ave Sold

(Oct)

Ave Sold Previous Month (Sep)

Price vs Previous Month (%)

Saloon

54.99

62,008

£11,114

£10,961

101.40%

Hatch

57.06

47,038

£6,368

£6,116

104.12%

MPV

60.14

50,572

£6,441

£6,291

102.38%

Estate

53.52

63,032

£9,649

£9,575

100.77%

4x4

56.39

53,438

£14,883

£14,454

102.97%

Coupes

55.41

45,395

£12,239

£12,801

95.61%

Roadsters

58.72

34,901

£12,943

£12,712

101.82%

Convertibles

66.55

44,928

£9,644

£9,752

98.89%



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Comments

  • John - 14/11/2016 16:15

    Would be good to see this data split by brand or at least by premium and volume brands. As the premium sector continues to grow market share (and with the predominant method of attaining a new car being PCP) it just means there are more premium cars coming back into the trade, so it's no surprise to see the average used car value increasing year on year.