Used car market "steady" according to BCA report
Despite this, BCA’s half-year data suggests that average prices across all used car sectors have been stable for the past 18 months. Values for fleet cars were actually higher in the first half of 2011 than those recorded when the market was accelerating in 2009.
That’s not to say there are no changes afoot, however. Looking at the half year averages, the age of cars sold has been rising since the back end of 2008 and went above 61 months for the first time on record in 2011. Average mileage has also been rising over time and nearly reached 59K in the first half of this year, another market highpoint.
There appears to be a general move towards cars being older and higher mileage when they are sold in the wholesale arena. This would suggest whoever owns and operates a car – motorist, commercial organisation, leasing company – they are keeping it and using it for a longer period before it is sold.For more of the latest industry news, click here.