The average value of a used car sold at British Car Auctions (BCA) stood at £7,929 in February, a 0.6% (£52) rise compared to the same month in 2015, according to the BCA Pulse report.

Year-on-year, the average age fell by one month to 60 months, while average mileage fell from 56,234 miles to 54,226 miles.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Simon Henstock, BCA chief operating officer, UK Remarketing, said: "BCA reports strong levels of demand in February, with plenty of interest in retail ready cars, but buyers rather more wary of poorer condition vehicles. Buyers have a lot more choice and vehicles requiring repair and refurbishment need to be sensibly valued to compete.

"The market is anticipating increased part-exchange business and greater volumes from fleet and contract hire sources over the coming weeks. With Easter imminent – often a watershed in demand – this could impact on residual values in the weeks ahead and BCA is recommending that volume vendors appraise their sale stock closely to ensure it is valued in line with market expectations."

By sector

The average fleet and lease car value fell £11 year-on-year in February 2016 to £9,662. The average age fell marginally to 39.33 months, while average mileage dropped from 47,528 to 44,596.

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.

The average fleet and lease car value was £222 higher than January’s figure.

The average dealer part-exchange vehicle value was £4,255 in February, up £214 (5.2%) year-on-year. The average age in this vehicle category was stable at 90.41 months, while average mileage declined from 72,055 to 71,239.

The average dealer part-exchange value dropped by £61 (1.4%) compared to January.

Nearly-new values were down £19 month-on-month to £20,451. The average age stood at 8.71 months, while average mileage dropped from 9,310 in January to 8,832 in February.