AVERAGE used car values improved at BCA in February 2019 with the latest BCA Pulse Report showing that values rose by 3.3 per cent compared to January, a rise of £322.
The headline figure of £9,798 is the fourth highest on record and reflects increased values for fleet & lease and dealer part-exchange vehicles. Year-on-year, the headline value lifted by £300 (3.1 per cent).
Stuart Pearson, chief operating officer of BCA’s UK remarketing arm, commented: ‘Since the turn of the year, we’ve seen good demand from buyers for vehicles that are accurately priced and with good provenance. The focus has definitely been on quality, value and the ability to turn stock quickly.’
Pearson added: ‘BCA has seen a long-term evolution in average used car values across the board which reflects both the wide choice and excellent quality of stock we offer on behalf of our vendors and the consistent demand from professional buyers to meet their retail needs.’
Fleet & lease values averaged £11,522 at BCA in February 2019, a modest increase of £69 over January, but a significant £730 (6.7 per cent) uplift compared to a year ago.
The retained value against original MRP (Manufacturer’s Retail Price) improved by three-quarters of a point to 44.04 per cent compared to 2018. Average age at time of sale has risen slightly to 39.7 months, with average mileage falling by over 1,500 miles compared to a year ago.
Dealer part-exchange values at BCA rose to £5,167 in February 2019, a £51 increase over January. The improved quality of product on offer in this sector helped to push year-on-year values up by £343. Average age and mileage decreased compared to the same month in 2018.
Sustained demand for nearly-new vehicles at BCA continued into February, with values rising to £23,084 during the month.
Values were up by £3,333 (16.8 per cent) compared to the same month last year. Model mix has a significant effect in this low volume sector, with brand specific winners and losers.