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Average used-car values increased

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Average used-car values climbed month-on-month in December while stock volumes fell sharply, new figures have shown.

A report by British Car Auctions found that average values rose by £113 to £5,905 in the month, while year-on-year figures were behind by £283 - a fall of 4.7%.

However, findings reveal that values were up by £1,042 compared to December two years ago.

Trading was disrupted by the Christmas break and the extremely cold weather, leading to a sharp fall in the volumes of cars entered and sold - a development that will have been noted by car insurance companies.

Tony Gannon, communications director, BCA, said: "December often sees a surge in prices as professional dealers acquire stock in readiness for the new year and 2010 was no exception.

"However, the weather influence was a significant factor as it left remarketing centres very short of stock - on top of the traditional seasonal slow down and reduced trading period.

"The end result was that supplies of fleet and lease, part-exchange and nearly new cars were well down on November, and this combined with a changing mix of higher value cars offered in special sale sections resulted in average prices rising across the board and for the first time since September."

© Press Association 2011