Average used car values at BCA continued to rise, as buyers competed strongly for stock in March. Even with the early Easter break impacting the market at the end of the month, the average value of a used car sold at BCA rose by £170 compared to February, a 1.7% uplift.
Values for fleet & lease cars and dealer part-exchange stock improved during the month to reach the highest points on record. BCA’s Pulse Report shows that average used car values are up by £818 (9.2%) compared to a year ago, with average age and mileage continuing to reduce.
The headline figure of £9,668 is the second highest on record and BCA’s data shows used car values have been rising steadily during 2018, reflecting both the richer mix of cars available at BCA and the sustained level of demand from buyers.
Stuart Pearson BCA MD UK Remarketing commented, “Buyer demand was strong in March, resulting in average values reaching record levels and excellent conversion rates around the 24-strong BCA network. Reflecting seasonal patterns, we saw greater volumes from both fleet/lease and dealer part-exchange sources and this uplift is likely to continue in the weeks ahead.”
“With Easter now behind us, we expect demand to be maintained well into April as professional buyers compete for stock. Retail used car activity is reportedly very strong, as buyers look for good value used cars and that is being helped by the increased availability of finance in the used sector.”
Year-on-year table: All cars
Fleet & lease stock posted a new record value of £11,122 in March as demand increased. Values improved £330 (3.0%) over the month, with retained value against original MRP (Manufacturers Retail Price) improving by a point to reach 44.22%. Year-on-year values were up by £667 (6.3%), with age static and mileage declining.
Year-on-year table: Fleet & lease
Average dealer part-exchange values reached record levels for the second month running, rising by £71 (1.4%) to £4,895 in March. Year-on-year values were ahead by £301, representing a substantial 6.5% uplift.
Year-on-year table: Dealer Part-Exchange
Values for nearly-new vehicle values fell to £18,869, from February’s year high figure of £19,751, but were up 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