The average price of a used car was £6,315 in September, up by 2.5% month-on-month and by 1% year-on-year, according to the Pulse Report from remarketers British Car Auctions.
The report attributed the rise and competition among buyers to "on-going supply issues"; essentially, the lack of quality, used stock available in the nearly-new to sub-five-year-old range following the crash in new sales around 2008.
Go deeper with GlobalData
The average age of a used car was 62.73 months, up 3.7% year-on-year, having done an average 58,659 miles, up 1.4%. The average sale against CAP was 98.04%, down from 99.05% in September 2011.
Part-exchange values rose 5.5% on August and 13.3% year-on-year to an average £3,113, the first time the £3,000 barrier has been broken. Values against CAP Clean were up 2.5 percentage points to 95.4% with average age and mileage down slightly. Year-on-year, part-exchange values were up 13.2% with age and mileage steady.
At £19,742, nearly new values were up by 1.9% on August, and were up by a percentage point to 100.8% against CAP Clean.
richard.brown@vrlfinancialnews.com
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.
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
