The average value of a used car sold at British Car Auctions (BCA) fell to £7,955 in January, a 0.6% (£52) decrease compared to December 2014, according to a BCA Pulse report.

The report said the reason behind the fall was an increase in used car volumes during the month. On the other hand, CAP Clean improved from 96.04% to 98.27%.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Despite the monthly fall, the average used car value was up by £574 – a 7.7% rise – compared to January 2014.

Year-on-year the average age fell from 61.76 months to 59.59 months, while mileage fell from 56,861 miles to 55,817 miles.

Simon Henstock, BCA’s UK operations director, said: "We have seen a similar pattern over the past four years as volumes rise in January and the model mix changes compared to the very short trading period in December.

"Notably the year-on-year figures continue to show substantial value growth, underlining that the improving economy and rising consumer confidence is impacting the used car market as well as the new."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Henstock said that BCA offered and sold more vehicles in the first weeks of 2015 than at any time in its history.

By sector

The average fleet & lease car value rose by £352 (3.8%) compared to December, reaching £9,478. Year-on-year the values were up by £260 (2.8%). Average age was broadly static compared to January 2014, while average mileage increased from 45,745 to 47,563. CAP Clean performance was slightly lower at 41.28%.

The average dealer part-exchange value fell for the second month running, averaging £4,075. This represented a fall of £38 (0.9%) compared to December.

Year-on-year values were ahead by £245 (6.3%), despite the rise in average age from 88.5 months to 90.12 months. CAP Clean performance was ahead by nearly a point compared to a year ago at 97.52%, while average mileage fell to 72,649 from 73,415 recorded in January 2014.

Nearly-new values fell £1,672 from the record levels seen in December to £21,403. CAP Clean performance fell slightly to 100.79%.