The average value of a used car at auction in April dropped 7.11% compared to March to £6,502, according to the latest Pulse report from British Car Auctions.
The decline continues the trend since the peak of £7,361 in December 2012; down to £7,137 in January 2013, £7,056 in February and £7,000 in March.
Go deeper with GlobalData
However, the figure remains 16.13% above the figure for April 2012 and is still the fifth-highest figure of the last two years.
Year-on-year, average age was down by 1.95% to 62.71 months; average mileage was down 4.78% to 57,243; and sale against CAP rose by 0.27ppts to 94.87%.
By sector
Fleet and lease used vehicles averaged £8,592 at auction, down 1.63% on March, but 12.46% up year-on-year. At 94.77%, sale against CAP was down from 97.68% in March and 95.87% in April 2012.
Part-exchange values hit a high of £3,595, although the average value has held at above £3,564 since December 2012. CAP performance was down 2.4ppts month-on-month to 93.46%, although above the April 2012 figure of 89.19%.
Nearly new cars averaged £19,663 at auction, down from £21,075 in March. Average age was 8.27 months, mileage was 9,373 and sale against CAP was 98.76%.
richard.brown@timetric.com
