The latest data from BCA, the UK and Europe’s leading vehicle marketplace, shows that values for Part-Exchange vehicles remain at near record levels.
According to the BCA Pulse Report, which provides a definitive insight into used car values, June was the third highest monthly average for P/X values ever recorded by the company – following the record-setting values in April and May this year.
Released after the SMMT’s report of continuing record-breaking new car sales, this new data reflects a relatively buoyant used car market where there is a healthy balance of supply and demand.
Year-on-year, used car values continue to climb with the average value of a car sold by BCA in June 2015 up by £282, a rise of 3.7% compared to June 2014. Average values for dealer part-exchange cars in June 2015 were £305 (7.6%) ahead of the same month in 2014 – the third highest monthly average value recorded by BCA.
“Whilst supply and demand are reasonably well balanced in the current marketplace, trade buyers at our sales are continuing to compete strongly for good quality stock” explained Tim Naylor, Editor of the BCA Used Car Market Report.
“This is what is keeping values at exceptionally high levels on average. And there is plenty of interest in the part-exchange sector as these cars represent excellent value for money.”