Positive Outlook for Used Car Market in November, Reports BCA

The used car market has remained positive in November, with supply and demand well balanced as the year comes to a close. According to BCA, the average value of used cars in November 2024 was £7,345, a slight decrease from the previous month but still higher than November 2023.

Despite the easing of used retail demand as Christmas approaches, the overall outlook for the market remains positive. Volume buyers are actively purchasing inventory in preparation for the new year, with expectations of increased demand early on.

Sold volumes have been significantly higher compared to the same period last year, with over 10,000 different buyers engaging with BCA during the month. Stuart Pearson, BCA’s chief operating officer, noted that the market has remained positive throughout most of the year, bringing confidence to professional buyers and a sense of optimism not seen in recent years.

With stable prices and strong inventory management practices in place, businesses are well-positioned to take advantage of the anticipated spike in demand in the new year. As 2024 comes to a close, the market is in a good place, and there is optimism for a strong start to 2025.

Overall, the used car market continues to show resilience and adaptability, with professionals in the industry looking forward to a promising year ahead. Stay tuned for more updates on the market as we head into the new year.