Demand keeps used car prices ‘relatively firm’

Demand continued to keep values relatively firm in the used commercials market in February, according to auction specialist British Car Auctions (BCA).

Despite volumes rising sharply average values fell by £76 (1.8 per cent) in February while sold volumes increased by nearly 13 per cent over the same period, following a near 50 per cent increase between December and January. Average values have remained between £4,000 and £4,200 since summer 2010.

Duncan Ward, BCA’s general manager commercial vehicles, said: “Overall the market seemed pretty confident, although there were patches when buyers seemed to turn off. There are still issues relating to poor stock resulting from an influx of vans from business failures and liquidations, often in poor condition or non-retail colours and with a low specification and that is likely to continue in the months ahead.”