The latest Pulse update from British Car Auctions (BCA) has highlighted a small reduction in used car values last month.

July witnessed a 1.8 per cent fall in average prices to £6,875. However, the market remains extremely buoyant in comparison to the same time last year, holding a position 11.2 per cent higher than in July 2012.

The age for used car sales also dipped by one month on average in comparison to the same month last year, while sales for 'nearly new' vehicles rose sharply – largely as a result of the recent launch of new models by many manufacturers.

Simon Henstock, BCA's UK operations director, commented: "The summer holiday period is typically quieter in terms of buying activity in the wholesale markets, but that is being balanced by the on-going shortage of good quality, ready-to-retail stock."

He added cars entering the market from dealer part-exchange have performed extremely well over recent weeks.

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