The average price of used cars sold at auction fell by £132 month-on-month in May, according to BCA.
The auction company said the new average of £7,376 highlighted how stable the market had been to start the year, falling from £7,597 in January.
May’s average did however represent a fall of just over £1,000 year-on-year.
Monthly sold volumes rose to the second highest point this calendar year, and performance against price guide expectations rose by 1.1% compared with April.
BCA UK COO Stuart Pearson said: “After a little pricing volatility at the start of the month, the mood of both our buyers and sellers has been generally positive, mainly driven by a very stable market with minimal overall movement.
“We’ve seen volume lift, but demand has more than matched it and clean, well-presented stock always attracts a flurry of competitive bidding.
“Whilst EVs continue to receive too much negative press, many have now found a price point that makes them very attractive and we’re seeing good levels of demand for many models.
“Overall, pricing stability tends to radiate confidence, and we’ve seen the June market lift even further in the early days of the month.”
Pearson said that BCA customers were reporting relatively buoyant retail activity, despite factors such as the upcoming General Election, and this time of year traditionally being a quieter one for used car sales.
He added: “Every indication suggests that these trends will continue over the coming months with many dealers having the desire to carry even more used stock, if they are able to source it.”
