Used car values on the up, auction firm saysBut nearly new values slumped last month
12 May 2009
Used car values have risen for the sixth month in a row, according to new figures from auction company BCA.
Although the Easter holiday usually leads to a drop in demand, the average cost of a used car sold at auction rose to £5,641 in April, BCA said – £59 more than in March.
And compared with April 2008, last month’s were up by £235, or 4.3%.
Used car values ‘back on track’
BCA’s communications director Tony Gannon said: ‘Compared to April last year, average values are ahead by more than 4%, which indicates the strength of the recovery and suggests values are very much back on track. In fact the market has improved by more than 18% from the bottom of the slump last October.’
However, the average sold under the hammer slumped by more than £2,400 this April, following a £600 rise in March.
BCA said this wild fluctuation could be down to the introduction of the government’s new , which aims to promote sales of .
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