The average used car selling price in the UK increased by 4.2% in June to £5,392, according to the latest figures from the National Association of Motor Auctions (NAMA).
NAMA’s June report shows first time conversion rates increased by 1.3% to 75.4% from May, although it was a 0.3% drop year-on-year.
Average mileage fell slightly by 0.4% to 64,102 and the first time premium was £95, up by £34 (55.7%) on last month.
Louise Wallis, head of NAMA, said: “Auction activity showed signs of improvement in June – strengthening as the month progressed.
“The overall conversion rate improved by 1.3% - whilst this was significantly lower compared to some the highs seen in the first quarter, this is broadly in line with last year’s performance.
“We anticipate the market to remain stable with good quality cars remaining in demand."