The average price of a used vehicle at auction in August was £7,037, according to the British Car Auctions (BCA) Pulse report.

The figure was 2.36% above that recorded in July, the only month other than April to post an average below £7,000 since December 2012, and 14.27% above that of August 2012.

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Year-on-year, average age was down by 1.88% to 61.47 months and average mileage was down by 5.06% to 56,260 miles. Performance against CAP rose 0.75ppts to 97.55%.

BCA attributed the rise in prices to a shortage of quality stock and advised cars outside the top tiers of condition may struggle to sell unless competitively priced.

By sector

The average value at auction of used cars in the ex-fleet and lease sector was up 1.34% month-on-month and 9.12% year-on-year to £8,898. Sale against CAP was down 0.25ppts year-on-year to 97.34% although sale against manufacturer’s retail price was up by 0.88ppts to 41.69%.

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The average value of part-exchanges fell by 1.30% month-on-month but rose by 23.42% year-on-year to £3,642. Sale against CAP was also up substantially compared to August 2012, rising 3.7ppts to 96.69%.

The average nearly-new value was up 4.32% month-on-month and 6.12% year-on-year at £20,555. Sale against CAP was 99.46%.

richard.brown@timetric.com