Good quarter for used car salesThe used car market continued to perform strongly in the first quarter of the year, according to figures from British Car Auctions (BCA).
The used car market continued to perform strongly in the first quarter of the year, according to figures from British Car Auctions (BCA).
The company's latest Pulse Report shows that the typical values of both fleet/lease and part-exchange stock increased in the first three months of the year.
On average, the value of a three-year-old, 60,000 mile fleet and lease car reached £6,913 - a new record for any quarter.
In March, values almost reached the highs seen in September 2006 and the typical used car in this class easily broke the £7,000 mark.
Similarly, the average value of a part-exchange used car increased in the quarter. The BCA figures show that prices have risen by £146 since the beginning of the year - equivalent to a 4.8 per cent increase.
"It is interesting that March recorded the strongest prices, as volumes were beginning to rise," commented the BCA's communications director, Tony Gannon.
"The March plate-change stimulated a lot of interest in retail sales – both new and used – and this will have had a pull-through effect into the wholesale market."
Mr Gannon pointed out that economic uncertainty and fears about rising inflation and interest rates did not seem to dampened consumers' appetites for used car.
A recent study found that people in the UK now trust used car salesmen more than they trust politicians.
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