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Seasonal fall in used car prices

Holding model car in hand10/12/12

By Tom Midlane

The average price of a second-hand car fell last month as the market slowed in the run-up to Christmas, new research has revealed.

Used cars sold for an average of £6,421 in November, a 0.9 per cent monthly fall, according to British Car Auction's (BCA) latest Pulse Report.

Nevertheless, prices were still the third highest on record, registering a 3.5 per cent year-on-year rise despite the vehicles sold being older and with higher mileages on the clock.

After recording all-time record prices in October, a slight drop in prices "was not unexpected" with consumers distracted by the cold weather and Christmas shopping, BCA communications director Tony Gannon said.

"The marketplace is entering a slower phase in the run-up to the year-end and demand faltered a little in November - a seasonal element to the annual buying cycle," Mr Gannon added.

"Overall, prices remain strong when taking the longer view and average values during 2012 have probably exceeded the expectations of most market watchers."


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