The latest data from British Car Auctions (BCA) revealed used car values averaging £7,345 ($9,335) in November 2024.
This reflects a balanced supply and demand dynamic amid typical seasonal pressures.
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It marks a decrease from October’s £7,685, influenced by a shifting stock mix and seasonal guide price adjustments.
Nevertheless, the market strength kept average values ahead on a year-on-year basis.
BCA COO Stuart Pearson said: “The used market remained positive in November, with good levels of demand from professional buyers and a steady price performance that reflected the typical seasonal pressures at this time of the year.
“The overall feeling is that the market is well balanced as the year draws to a close and the anticipation is that 2025 is going to get off to a good start.”
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By GlobalDataAccording to anecdotal reports from professional buyers, used retail demand is easing as expected with the approach of Christmas.
Despite this, the market remains strong for this time of year, and the general outlook is positive, BCA said.
Volume buyers are actively working to organise their inventory before Christmas, anticipating a rise in demand early in the New Year.
Sold volumes in November continued to surpass those of the same period last year.
More than 10,000 different buyers made purchases throughout the month, maintaining strong engagement levels seen throughout much of this year.
BCA noted that this activity underscores the robust nature of the market despite seasonal fluctuations.
Pearson added: “Since the pricing realignment experienced in the final quarter of 2023, the used car market has remained positive throughout most of this year, bringing confidence to professional buyers and a level of optimism perhaps not seen for a few years.
“Prices have been generally stable and the inventory disciplines that have been adopted leave most businesses in good shape to take advantage of the spike in demand that is eagerly anticipated into the New Year.”
Earlier this month, BCA and TC Harrison Group entered a three-year exclusive remarketing agreement, which will enable the remarketing of around 2,000 vehicles annually through BCA’s digital platforms.
