Report points at higher used values

Report points at higher used values

Used cars sell-on values are on the rise, according to a fresh industry report.

The British Car Auctions' (BCA) Pulse report shows that average values increased by £166, or 2.2%, to £7,553 in April - compared with the previous month.

It is the second-highest monthly value on record and the greatest figure this year.

The report also highlights record rises in value in the fleet and lease and dealer sectors for a second month running, as well as improved figures for nearly-new cars.

For the past three years April has actually seen large falls in values.

BCA did report a fall of 2.5 points of average performance against CAP Clean. With the figure now standing at 95.77%, the Pulse report concluded that sellers are becoming more pragmatic about performance compared to guide values.

The average age of cars fell to 61 months and average mileage was down to 55,500. CAP Clean performance was higher than last year's figure by a point.

The average value of part exchanges was £3,982 in April, up 1.9% or £76.

Copyright Press Association 2014