Used car values improved in May as BCA’s online sales programme presented a broad range of good quality stock and buyer numbers increased during the month.
Values averaged £8,403 at BCA in May 2023, up by £87 (1.0%) compared to April 2023, as wholesale demand remained steady and buyer engagement continued to be healthy across BCA’s online sales programme. Performance against guide prices improved by 1.6 percentage points compared to April and seasonal demand for convertibles and roadsters was further enhanced by the onset of warmer weather across much of the UK.
BCA also saw an improving used marketplace for Electric Vehicles, as first time conversion rates and sold volumes rose in May. EVs are becoming increasingly more affordable following the significant price realignment across a number of models and, in particular, professional buyers are now focussing more attention on the higher specification premium EV sector now that values have steadied.
(* Source: BCA Valuations)