Used car values set to remain strong in 2014 [Gloucestershire Echo (England)]
(Gloucestershire Echo (England) Via Acquire Media NewsEdge) As average used car values have surged to record levels during 2013, leading vehicle re-marketing company, British Car Auctions suggests next year could bring more of the same in the used car market as the availability of retail quality used cars is likely to remain limited.
Average used car values in 2013 have seen a substantial year-on- year rise over 2012 according to BCA's most recent Pulse Report, underlining the on-going value evolution in the used car market. Demand for first time to market fleet and lease stock has seen values rise by around 15 per cent compared to a year ago.
Values have also risen sharply for dealer part-exchange vehicles, as professional buyers have focused on older higher mileage cars, with year-on-year variances regularly exceeding 20 per cent.
Simon Henstock, BCA's UK operations director said: "We have seen an upturn in the supply of dealer part-exchanges at BCA in 2013, reflecting reports that retail sales have been strong. However, supplies of fleet and lease vehicles remain constrained, a consequence of the reduced new car sales to the business sector following the onset of the financial crisis in 2008."
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