Used car values on the up, auction firm saysBut nearly new values slumped last month

12 May 2009

Used cars are fetching more at auction, new figures show

Used cars are fetching more at auction, new figures show

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 .

Scrappage scheme explained

To see , head over to the . If you want to find out whether you should scrap it, make sure you read our expert guide to the .


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