Used car prices are set to come under pressure in September as higher volumes of ex-fleet and dealer part-exchange vehicles hit the wholesale market. Values fell back slightly in August with each sector recording a decline compared to July, according to BCA.
Simon Henstock, BCA’s UK operations director said: “The short term prospects suggest that volumes will rise from mid-September onwards as greater numbers of dealer part-exchange and ex-fleet vehicles begin to reach the wholesale markets.
“While the best quality stock – the condition one and two cars – will continue to attract a lot of buyer attention and achieve strong prices as they have done all year, it is the poorer presented vehicles that typically feel the price pressure.
“If the market conditions tighten then these vehicles will need to be competitively priced if they are to be sold.” Manheim said average part-exchange values were up 1.7% month-on-month in August, and year on year were up 9.4%.
Daren Wiseman, valuation services manager at Manheim, said: “Despite some talking down of the used vehicle market at the end of July, we saw a strong month of sales in August, with values trending positively. “We may see lower growth in values as volumes increase over the next four to six weeks as expected.”
