Used car value slide starts to ease

Latest data from BCA, the vehicle auction company, shows that October average monthly used car values fell to L4,743. It is their lowest point this year. And follows a small rally in September. The fall of L69 was actually lower than that experienced over the same period last year. However, it comes after months of sustained price pressure. Average values have tumbled by more than L1,000 in 2008. Year-on-year, values are L743 behind those recorded in 2007. It is the fourth month running that the average auction value has been below the L5,000 threshold.

R By Ralph Morton

30 November 1999 1 min read

Latest data from BCA, the vehicle auction company, shows that October average monthly used car values fell to £4,743.

It is their lowest point this year. And follows a small rally in September.

The fall of £69 was actually lower than that experienced over the same period last year.

However, it comes after months of sustained price pressure.

Average values have tumbled by more than £1,000 in 2008. Year-on-year, values are £743 behind those recorded in 2007.

It is the fourth month running that the average auction value has been below the £5,000 threshold.

“With prevailing economic conditions remaining difficult, there is unlikely to be any short term relief for used car vendors,” commented BCA’s Tony Gannon.