BCA reports used fall
August 19th, 2010 by Richard Aucock
BCA has joined CAP in reporting a decrease in used car prices after analysing recent auction results.
The ‘real world’ fall shows dealers are willing to pay less for stock at car auction.
An average used car is now worth £5784: the fall is a modest quarter-percent, but it is a fall nonetheless.
Particularly as it affects the higher value fleet and lease sector; older and cheaper dealer part exchange motors were relatively unaffected.
What’s more, the actual fall in average price may have been higher were it not for the relatively rich mix of cars for sale at BCA that disguised some of the pressures in the marketplace.
The results, says BCA, reflects the general UK economic slowdown, plus a return of seasonal patterns that recently have been less of an issue.
Director Tony Gannon said: ‘Prices have continued to be under some pressure in July, especially in the fleet & lease sector, but sales volumes have held up well in the month, and demand is there for vehicles that are valued in line with their condition and market expectations.
‘Although we have not experienced seasonal patterns in the market for some time, we are seeing them now and should expect these to continue over the rest of this year.’