Average used car prices fell month-on-month in November, according to BCA.
The auction company said the decline was down to a shifting stock mix and a ‘very seasonal’ guide price move, with the average sale price of £7,345 still a slight improvement on November 2023.
BCA said anecdotal reports from professional buyers suggested that, while used retail demand was easing as expected as Christmas approached, the market was in a very good place considering the time of year, and the general outlook remained positive.
BCA COO Stuart Pearson said: “The used market remained positive in November, with good levels of demand from professional buyers and a steady price performance that reflected the typical seasonal pressures at this time of the year.
“The overall feeling is that the market is well balanced as the year draws to a close and the anticipation is that 2025 is going to get off to a good start.”
“Since the pricing realignment experienced in the final quarter of 2023, the used car market has remained positive throughout most of this year, bringing confidence to professional buyers and a level of optimism perhaps not seen for a few years.
“Prices have been generally stable and the inventory disciplines that have been adopted leave most businesses in good shape to take advantage of the spike in demand that is eagerly anticipated into the New Year.”
