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Car Auction Prices Slightly Down By End of January

Published 12 February 2014

As described in our auction report of 15th January, BCA's latest Pulse analysis shows that prices peaked the first week of the year, then fell back slightly by the end of the month.

The headline average value fell in January 2014 from December’s high point, although this was largely due to a changing mix of vehicles, as part exchanges and re-fleetingsmeant that volumes rose sharply during January. Fleet & Lease values apparently climbed during January, with dealer values static and nearly-new values declining from the record level seen in December.

BCA’s data shows that average values in January fell by £192 (2.5%) to £7,381 compared to the previous month.  Year-on-year, January 2014 was ahead by £244 or 3.4%.   Average age rose slightly over the month while average performance against CAP Clean improved by a point to 97.98%. 

The longer term trends show that used car values continue to rise and January was exceptionally busy in the wholesale markets, with BCA achieving record results in the first weeks of 2014, offering and selling more vehicles than at any time in its history.  Blackbushe alone sold a record breaking 1,144 cars on one day in January, and achieved a weekly record sold volume in excess of 3,100 vehicles during the month.  Belle Vue in Manchester also achieved record weekly sale figures as did Glasgow and Edinburgh.  Around the network, BCA centres in Brighouse, Walsall, Bedford, Birmingham and Measham all achieved record sale day performances.”

Year-on-year table: All cars

All cars

Avg Age

Avg Mileage

Avg Value

Sale vs CAP

Jan 2013

59.03

56,858

£7,137

98.21%

Jan 2014

61.76

56,861

£7,381

97.98%

Fleet & lease cars averaged £9,218 in January, a rise of £56 (0.6%) compared to December and the second highest value on record. Values were up by £692 (8.1%) year on year.   CAP performance improved by two points over the month to 97.73% and was static year-on-year.  Retained value against original MRP (Manufacturers Retail Price) was up a point at 42.46%, compared to December and year-on-year.  

Year-on-year table: Fleet & lease

Fleet/ Lease

Avg Age (months)

Avg Mileage

Avg Value

Sale vs CAP

Sales vs MRP

Jan 2013

40.16

48,204

£8,526

97.79%

41.48%

Jan 2014

40.14

45,745

£9,218

97.73%

42.46%

Average dealer part-exchange values have been broadly static since October last year and fell by just £12 (0.3%) in January.  Year-on-year, values were ahead by £266 (7.4%) compared to January 2013 with average age rising and mileage falling marginally over the year.  CAP performance improved to 96.68% in January, up one and a half points compared to December.

Year-on-year table: Part-Exchanges 

Part-Exchange

Avg Age (months)

Avg Mileage

Avg Value

Sale vs CAP

Jan 2013

87.65

73,784

£3,564

95.45%

Jan 2014

88.50

73,415

£3,830

96.68% 

Nearly new values fell from December’s record level to £21,183 in January, but volumes remain very low and model mix remains the most significant price factor.

Nearly-new

Avg Age (months)

Avg Mileage

Avg Value

Sale vs CAP

Jan 2014

8.45

9,143

£21,183

100.47% 

 

More at www.british-car-auctions.co.uk

 

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