The used market remained positive in November, with supply and demand well balanced and reflecting typical seasonal pressures as the year draws to a close, BCA has reported.

Used retail demand is easing as expected as Christmas approaches but the general outlook remains positive

Used car values averaged £7,345 across the board at BCA in November 2024; down 4.4% or £340 on the previous month but up 1.7% or £122 on November 2023.

BCA said the move from the October position was driven by a shifting stock mix and a very seasonal monthly guide price move and added that anecdotal reports from professional buyers suggest that used retail demand is easing as expected as Christmas approaches.

But the market is in a very good place considering the time of year and the general outlook remains positive.

Volume buyers continue to be active as they endeavour to get their inventory in good order pre-Christmas, with the anticipation that demand is likely to rise early in the new year.

Sold volumes continued to be significantly ahead of the same period last year and, with more than 10,000 different buyers purchasing at BCA during the month, the strong engagement levels seen throughout much of 2024 continued.

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

He added: “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.”