Date:
December 20, 2021
| Author: Sean Keywood
The average value of used cars sold at auctions fell by £ 1,724 in November compared to the previous month, according to BCA.
However, the average price of £ 9,571 was still a 19.5% year-over-year increase and caused the market to return roughly to levels it was through July 2021, when the following three months saw a sharp surge in values recorded.
BCA said a balance in supply and demand offset some of the spikes in value seen in recent months.
Stuart Pearson, COO of BCA UK, said: “November continued the transition to a more stable and familiar seasonal pattern of trade in the used sector.
“The values at BCA remain robust with very little overall movement over the month, and while buyer engagement has remained very positive overall, it is clear that many customers are taking stock and preparing for an expected busy New Year.
“We all continue to hope that an increase in Covid-19 won’t pose too much of a challenge to the industry. However, given the ongoing concerns about the supply of new vehicles, we will almost certainly see the market launch in the new year. Average values should remain robust for a few months.”
