Demand from buyers is driving rising used car values at BCA, as April saw more records tumble. Fleet & Lease values rose to £11,137, the highest point on record, while Dealer Part-Exchange prices increased sharply to reach £5,000 for the first time. Values also increased for nearly-new vehicles, although model mix has a significant influence in this low volume sector.
Despite this, the headline average value declined to £9,584, a fall of £84 (0.8%) caused by a changing model mix as dealer volumes increased. Year-on-year, average values are up by £494, a 5.4% rise.
Stuart Pearson BCA COO UK Remarketing commented, “Buyer demand was high and conversion rates stayed strong in April, despite the diversions of the Easter holidays and some unseasonably poor weather. Professional buyers remain very active, reflecting the strong retail demand that has been widely reported.”
“Whilst demand traditionally softens into the summer months, we are continuing to see inventory, attendance and bidding activity at increased levels and therefore we anticipate that average values will remain stable, driven by the high quality of stock that we offer.”
Year-on-year table: All cars
Fleet & lease stock posted a new record value of £11,137 in April as buyer demand continued. Average values improved marginally over the month by just £15, with retained value against original MRP (Manufacturers Retail Price) falling slightly to 44.08%. Year-on-year values were up by £664 (6.3%), with age and mileage declining.
Year-on-year table: Fleet & lease
Average dealer part-exchange values continued to rise, reaching £5,000 for the first time on record as values increased by £105 (2.1%) over the month. Year-on-year values were ahead by £324, representing a substantial 6.9% uplift with age static and mileage rising.
Year-on-year table: Dealer Part-Exchange
Values for nearly-new vehicles improved to £19,170, a rise of £301 (1.5%) compared to March and up by £1,142 (6.3%) year-on-year. Model mix has a significant effect in this very low volume sector, with brand specific winners and losers.
Year-on-year table: Nearly-New