Used car values 'improve slightly'

Used car values recorded a modest increase in August, new industry figures have shown.

The latest data from British Car Auctions (BCA) found that the fleet and lease and part-exchange sectors improved while the average values in the nearly new sector fell slightly.

Across the market values increased by £121 or 2%, from £5,784 to £5,905, while year-on-year values remained £318 behind, according to BCA.

Tony Gannon, communications director at BCA, said: "Following a period of softer demand over the peak summer months, the latter part of August saw increasing interest from professional buyers, leading to a welcome improvement in conversion rates and the resultant increase in average values.

"It is notable that new cars recorded their worst August monthly sales figures for 44 years over the same period and further proof that used cars remain the bedrock of profitability for retail dealers."

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