Used car values averaged £9,197 across the board at BCA in September, a rise of £264 or 2.9% compared to August, with performance against guide values improving by more than a percentage point.
Demand for used cars steadily improved throughout the month with the final week recording the highest sold weekly volume at BCA this financial year.
BCA UK COO Stuart Pearson said: “September was a particularly strong month for used car sales at BCA with average values rising by nearly 3% over the month as our Remarketing Division delivered an increased volume of fresh-to-market stock for our buyers. Despite the continuing concerns around the economy, the cost of living, inflation and interest rates, September trading was positive and there was a familiar seasonal feel to activity – demand is there, price performance remains healthy and the marketplace is currently stable.
“With new car supply remaining challenging, the younger and best quality vehicles have been in high demand for most of the year, however during September we’ve seen a particular lift in activity around older and even poorer graded stock.
“There was positive news from the SMMT as new car sales improved for the second month running, with the caveat that volumes remain well behind what we would normally see at this time of year and also pre-pandemic levels. With the ongoing shortage of ex-lease, rental and OEM stock in the used marketplace, there is every likelihood that prices on used vehicles will continue to remain very robust for some time to come.”