Vehicle values 'increase again'

British Car Auctions (BCA)'s latest Pulse report has revealed that vehicle values have increased for the second time in a row, due to a mix of high seasonal demand in September and supply problems.

The study found that average values climbed £364 to £6,252, a plus of 6.2% - marking the first time the threshold of £6,000 has been exceeded since 2009.

Values for September were £314 higher than in the same month last year and £35 above the values in September 2009. Since July, they have climbed almost 11%.

The report also revealed that values increased in all of the three main areas of nearly new, dealer part-exchange and fleet/lease.

Motorists who have recently bought a vehicle might want to check their car insurance documents are still up to date.

BCA's communications director, Tony Gannon, commented: "Although September 2011 has seen the first big value rise recorded this year, much of this is due to supply issues as buyers compete for the best quality stock.

"September is typically one of the best performing months in the annual cycle, but this is the first time we have really seen that trend re-emerge since the recession started in 2008."

Copyright © Press Association 2011

UKBC: Main (4.50)

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