British Car Auctions has released its data for the same month for used cars. BCA’s latest Pulse report shows the average value of a used car increased by £57 to £7,387 in March - the highest monthly value this year and the third highest on record. BCA’s data showed that used car values were ahead by £387 or 5.5%, year-on-year.

Tim Naylor, expert, explained “Despite volumes remaining significantly higher than we have seen in recent months, demand was very strong across the range of cars on offer at BCA in March.”

“In fact, used car sales have been exceptionally buoyant in the first three months of this year. Much of this must be down to motorists feeling a little more confident as the economy improves and looking to change their current used car for a newer and possibly more economical model. Even though the economic conditions are improving, research carried out by BCA in January shows that the cost of fuel remains top of the list of concerns for motorists, so fuel economy is very important.”

He continued “But as Easter approaches, we expect to see some downward pressure on average values and the market is already showing early signs of softening. People tend to turn their attention to paying for the summer holiday once Easter has been and gone, and plans for changing the family car often get postponed until the early autumn.”