The average price of a used car at auction in May was £7,045, reported by British Car Auctions (BCA), up by 8.35% month-on-month and 15.53% year-on-year.
The figure marks a recovery from the steady drop-off in average price since the high of December 2012, reported last month.
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The decline has led market bodies, including CAP and the Vehicle Remarketing Association, to suggest the period of high and stable prices in the used sector to be over and a state of less-predictable transition to begin. However, Manheim has reported a returning calm in the market.
Ex-fleet, part-exchange and nearly-new sectors were each up month-on-month in May: Ex-fleet by 2.47% to £8,804; part-exchange by 3.42% to £3,718; and nearly-new by 1.30% to £19,919.
Ex-fleet was up by 10.97%, and part-exchange by 30.34%, year-on-year, although nearly-new was down by 2.69% compared to May 2012.
Further data and analysis of used prices will be published in the June issue of Motor Finance magazine.
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By GlobalDatarichard.brown@timetric.com
