The average value of a used car in the UK in
August was up 4.5% (£270), year-on-year, according to the latest
Pulse report from British Car Auctions (BCA).
While BCA reported the shortage of good
quality vehicles was keeping prices up in 2012, the average value
of £6,158 was down £22 (0.36%) on July’s figure, due in part to a
higher proportion of lower-value part-exchange vehicles.
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July itself saw a tightened supply push up values 9.7% year-on-year
and 3.6% month-on-month, continuing the trend identified by
BCA’s
full report into used car values in 2011 and the full effect on
the sector of the 2008 recession and subsequent collapse in new car
sales.
Tony Gannon, communications director at BCA,
did, however, think the inflation of values by the shortage of
supply may end by mid-September as volumes rise.
“This traditionally exerts some pressure on
average values and conversion rates,” said Gannon.
Gannon added that pressure could be even more
pronounced this year thanks to the continuing uncertainty
surrounding the economy and the pressure on consumer disposable
income, which BCA recently highlighted
in a report in to customers’ searching for fuel-saving, therefore
money-saving, vehicles.
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By GlobalDatarichard.brown@vrlfinancialnews.com
