9:37 am, March 7, 2014
THE headline average used car value fell in February, compared to January, as volumes continued to rise during the month.
Despite this, values remain ahead year-on-year and demand was strong across the board for good quality used stock, according to BCA’s latest Pulse report.
There were small value falls in the fleet & lease and dealer sectors, while nearly-new values continued to decline from the record level seen in December.
BCA’s data shows that average values fell in February by £51 (0.7 per cent) to £7,330, compared to the previous month. Year-on-year, February 2014 was ahead by £274 or 3.8 per cent, compared to the 3.4 per cent year-on-year increase reported in January. Both average age and mileage rose slightly over the month while average performance against CAP Clean improved by a point to 98.74 per cent.
Simon Henstock, BCA’s UK operations director, said: ‘Volumes rose in February and we expect to see that trend continue over the coming weeks.
‘The SMMT is forecasting a strong March and, as every new car sale typically generates a chain of used car activity, there will be greater volumes from fleet and contract hire sources as well as increasing numbers of dealer part-exchange vehicles.
‘Feedback from main dealers suggests they are expecting a busy March and April, which in turn will generate a significant rise in volume through remarketing channels.’
