The used car market remains “very stable” thanks to well-matched supply and demand, BCA has reported.

The used car market is expected to remain positive, even over the coming summer holiday period

Average sold values from the auctions and remarketing specialist show May’s figure dropped just 1.8% (equivalent to £132) from £7,508 to £7,376. That’s in spite of the two bank holidays book-ending the month.

The market has also remained stable since the start of the year, with the average value falling just 2.9% (£221) from the £7,597 seen in January.

Monthly sold volumes in June rose to the second highest point this calendar year and performance against price guide expectations rose by 1.1 percentage points compared to April. Sale conversion rates remained healthy, supported by a total active buyer number that remains significantly ahead of the same period last year.

Feedback from BCA’s buyers suggests that used retail activity remains healthy, and the impact of the new car registration decline during the pandemic period continues, ensuring that the best-presented vehicles have been strongly contested.

Stuart Pearson, BCA chief operating officer, commented: “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.”

Pearson also noted good levels of demand for many used EVs, which have now found a price point that makes them very attractive.

Overall, the used car market has performed strongly in the post-Easter period and is expected to remain positive, even over the coming summer holiday period. The June market has already lifted in the early days of the month.

Pearson added: “Considering the flurry of often contradictory economic messages and the impending general election, as well as being firmly in the traditionally quieter period of the year for used car sales, our buyer customers tell us that retail activity remains relatively buoyant. 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.”