The average price of a used car at auction in May was £7,045, reported by British Car Auctions (BCA), up by 8.35% month-on-month and 15.53% year-on-year.
The figure marks a recovery from the steady drop-off in average price since the high of December 2012, reported last month.
Go deeper with GlobalData
The decline has led market bodies, including CAP and the Vehicle Remarketing Association, to suggest the period of high and stable prices in the used sector to be over and a state of less-predictable transition to begin. However, Manheim has reported a returning calm in the market.
Ex-fleet, part-exchange and nearly-new sectors were each up month-on-month in May: Ex-fleet by 2.47% to £8,804; part-exchange by 3.42% to £3,718; and nearly-new by 1.30% to £19,919.
Ex-fleet was up by 10.97%, and part-exchange by 30.34%, year-on-year, although nearly-new was down by 2.69% compared to May 2012.
Further data and analysis of used prices will be published in the June issue of Motor Finance magazine.
richard.brown@timetric.com
