Average used car values fall back in August at BCA

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Common month-to-month used automotive values at BCA slipped again in August 2022.

This was principally pushed by a altering model combine by way of the web public sale channel.

Values averaged £8,954 throughout the board at BCA in August, down from £9,464 the earlier month, with efficiency towards information values down marginally on July at 97.3%. Encouragingly, offered volumes rose to their highest level since March 2022, regardless of August historically being one of many quieter months for used automotive gross sales.

BCA reported that demand improved through the month and whereas the higher situation automobiles generated vital curiosity, consumers began to shift their consideration in direction of decrease grade and better mileage automobiles.

BCA UK COO Stuart Pearson stated: “Given the continuing issues round the price of residing, inflation and rates of interest, political uncertainty and the continuing warfare within the Ukraine, tendencies within the used automotive market had been comparatively constructive in August.

“Offered volumes elevated at BCA in August and whereas common values got here underneath some strain, this was largely a results of the change in model combine that’s typical at the moment of yr. Seasonality has made a return in 2022 and buying and selling exercise throughout the broader used automotive market has settled right down to extra acquainted patterns because the constraints imposed by the pandemic have receded.

“That stated, the continuing scarcity of ex-lease, rental and OEM inventory is prone to stay a problem for the wholesale used automobile sector for a while to return. However even right here, the SMMT’s August report famous the primary upswing in new automotive volumes for a lot of months – a modest 1.2% rise – so maybe we’re beginning to see the very earliest inexperienced shoots of restoration within the new automobile sector?”

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