Average used car values remained very stable at BCA during November with well-balanced supply and demand ironing out some of value spikes seen in recent months.
November used car values averaged £9,571 at BCA, very much in line with average values seen earlier in 2021 and maintaining the pattern of consistently higher average used car values reported by BCA this year. Year-on-year, average monthly values are up £1,855, equivalent to a 19.8% increase and reflecting the rich mix of stock on offer across BCA’s online sales platforms.
BCA continues to enhance its fully digital remarketing programme and has confirmed that it will be staging its biggest ever Festive sales programme with over 15,000 cars and LCVs being offered via online auction between Christmas and the New Year.
Weekly figures provided by BCA Valuations underline the more stable picture emerging during November, with little movement across the weekly figures, certainly when compared to the price pressure experienced by the market in September when average values briefly rose above £12,000.
Stuart Pearson COO BCA UK commented “November continued the move towards a more stable and familiar seasonal trading pattern across the used sector. Values at BCA remain robust with very little overall movement during the month, and whilst overall buyer engagement levels have remained very positive, it is clear that many customers are taking stock and making preparations for what many expect to be a busy New Year”.
He added “We all remain hopeful that any surge in CV-19 doesn’t create too many challenges for the industry. However, with the ongoing concerns around new car supply, we will almost certainly see the market kick-start in the New Year and therefore average values should remain robust for some months to come. To help our customers get ahead, BCA has announced an extensive programme of online auctions and Buy Now sales over the festive period to help our customers prepare for the New Year.”
(* Source: BCA Valuations)
*Article Source www.harrisonsadler.com