Thursday, July 09, 2009
Used car prices rise in June
 Average used car prices continue to grow but at a slower rate than that seen in the first few months of 2009, according to the June Pulse report from auction house BCA. Average prices rose £77 to £5,850 compared to May and are now 14.3 per cent ahead of June 2008 Part exchanges With demand for affordable transport staying high, values have increased in the part-exchange sector for seven consecutive months. The average price improved by £45 to £2,405. Year-on-year values are ahead for the second month running, up £250. June saw another increase in nearly-new values, up £1,690 against May to reach £16,382, the highest recorded in a year. BCA communications director Tony Gannon said: "The current supply and demand equation is keeping prices high. Low stock levels "Stock levels remain relatively low, and certainly behind normal levels for the current period in previous years. "Consumer demand remains firm and with the vast majority of vehicles on offer being sold, conversion rates remain exceptionally high and values reflect this." BCA also reports on the longer-term quarterly movements, and shows that Quarter 2 2009 established a new record average value of £5,785 - beating the previous highest of £5,722 in Q1 of 2008 by £63. Year-on-year, Q2 09 is some £450 ahead of last year. DATED: 09.07.09 FEED: MT |
