Used car prices fall, reflecting general slowdown

The latest data on the used car market appears to reflect an overall slowdown in the UK economy.

Research from British Car Auctions (BCA) has found that used car values remained relatively static in July, with demand the same as was seen in July, regardless of style or brand.

The average price of a used car at BCA fell from £5,802 in June to £5,784 last month, a decrease of only 0.25 per cent.

However, BCA says that the fall may have been higher had it not been for the relatively wide variety of vehicle s coming to the market, which disguised some of the market pressures.

"Although we have not experienced seasonal patterns in the market for some time, we are seeing them now and should expect these to continue over the rest of this year," said BCA communications director Tony Gannon.

BCA recently conducted a special virtual auction, with bidding for 400 cars taking place on line and turning over £3 million.