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Fleet/lease values at near record levels in January

Both fleet/lease and overall auction values rose in January despite rising volumes, latest BCA data shows.

BCA used car auction

Values for fleet/lease vehicles improved during January to near record levels.

Average values in the fleet and lease sector rose for the first time since last October, reaching £10,163, the second highest point on record. The month-on-month increase of £498 represented a 5.5% uplift. Retained value against original MRP (Manufacturers Retail Price) improved by a point to 42.0%, while year-on-year values were up significantly, rising by £723 (7.6%), with both age and mileage declining.

January also recorded the second highest headline figure since Pulse began reporting in 2005, with values rising by 3.3% (£278) to £8,619. Year-on-year values were up by 9.4% (£742), with average age and mileage falling by three months and 4,000 miles respectively.

A number of BCA centres around the network set new records for sold volume during the month and BCA recorded the highest inventory number on record in January.

Simon Henstock, BCA chief operating officer UK remarketing, commented: “Business really accelerated into the New Year at BCA, following on from an equally busy December. For the first time in several years, average values rose in January compared to December, despite stock levels rising to record levels during the month.

He added: “Preparation and presentation remain key, however, as buyers continue to focus demand on retail-ready vehicles.”

Henstock also warned of an influx of corporate fleet and dealer part-exchange stock in the weeks ahead due to the forthcoming March plate change.

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For more of the latest industry news, click here.

Natalie Middleton

Natalie has worked as a fleet journalist for over 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day.