Used car market sees September rise

The used car sector saw an average increase in values this September, marking a recovery in the market, according to the

Values went up slightly, with a £33 rise from the £5,905 seen in August to £5,938 in September. Last month's figures are however a £1,100 increase from September 2008. Year-on-year values were lagging behind with a £279 decrease.

The biggest value increases were seen in the fleet and lease sections, with revenues seeing rises of almost £300. The total values for the fleet and lease sectors stood at £5,714.

Simon Henstock, UK operations director, BCA, said: "Although September has not seen the big value rises that were typical of the pre-recession era, much of that was due to August being so strong, with many buyers seeking to acquire stock ahead of the anticipated September rush.

"Even so, prices did improve and the month saw a good level of interest from professional buyers, with conversion rates continuing to climb for many vendors. Sold volumes increased by around 4.5%, with much of that increase coming from the part-exchange sector.

"With new car sales continuing to be slow, dealers are looking to used cars to deliver profitable retail opportunities. Demand remains high for cars in good, ready-to-retail condition and values for the best examples can outstrip guide expectations by hundreds or even thousands of pounds."

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