December saw an increase in the value of used cars sold.

According to figures released by British Car Auctions, the price of cars sold in December was £6,188 – a rise of £185 compared to November’s figure of £5,903.

Communications director at the group Tony Gannon commented: "If the economy continues to recover, that will give consumers the confidence to change their car. There is a view that we are on an upward curve, but it looks to be very gradual and protracted."

He added that while January is likely to bring a further uplift in activity, sustained price rises over a number of months – such as those seen in 2009 – are unlikely to be repeated.

The organisation went on to say that values remain ahead year-on-year by £1,352, a rise of 27.9 per cent.

Earlier this week, the Society of Motor Manufacturers and Traders revealed that new car registrations completed through the scrappage scheme are heading towards 290,000.

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