The average value for a used car reached a
record £6,114 in Q1 2012, according to British Car Auction’s (BCA),
the highest value for a first quarter since BCA’s Quarterly Pulse
Report began in 2005.
Across fleet, part-exchange and nearly-new,
the average value of a second-hand vehicle was up by 3.64%, an
average of £215 per vehicle, year-on-year, and up 6.85%, £392 per
vehicle, on Q1 2008, before the bite of the recession and credit
crisis.
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Going by the BCA Price Index, the average
value of a used vehicle for the first quarter of 2012 was 127.9% of
the average value recorded in the first quarter of 2005, £4,780,
just short of the 129% peak in the third quarter of 2009 and third
quarter of 2011.
Tony Gannon, communications director at BCA
commented: “There is little doubt the ‘value’ element of the market
has recovered despite the on-going economic issues.
“However, the supply side of the market
equation should not be ignored. There have been well reported
constraints on supply of the best, retail quality cars and – in a
competitive remarketing environment – this is undoubtedly
contributing to the general rise in values.”
Average Quarter 1 performance 2005
– 2012, BCA
2005 £4,780
2006 £4,795
2007 £5,252
2008 £5,722
2009 £5,426
2010 £5,888
2011 £5,899
2012 £6,114
richard.brown@vrlfinancialnews.com
