Nearly-new car prices fell 2.2% in value as average used car values fell by 0.76% overall during June, BCA Pulse shows.

Used car values stalled, following two consecutive months of record values in the wholesale markets, with the average price settling at £8,198.

The figure remains up 5.6% (£440), however, and is the second highest monthly average on record.

Simon Henstock, BCA chief operating officer UK remarketing said: “The summer months typically see some pressure exerted on average values so we are not surprised to see the headline figure drop in June, as it did last year. 

“Supply and demand are reasonably well balanced, with conversion rates remaining relatively stable and buyers are continuing to compete strongly for good retail-quality stock.”

Nearly new vehicles and the fleet sector felt the largest falls, with the former settling at £20,042 and the latter falling by 2.3% (£237) to £9,669 as RVs fell to 41.3% from 41.9% in May. 

Average values for dealer part-exchange cars improved for the fourth month running and the third consecutive record value, although the rise was just £17 to an average value of £4,507. YOY values were ahead by £129 (3%), with age static and mileage declining.

BCA Pulse indicated that there was minor average price movement in the key high-volume segments, with hatchbacks down 0.87% to £6,060, MPVs rising by 2.7% to £6,284 and saloons up by 0.3% to £10,714.