Demand for three-year-old ex-fleet stock remained extremely strong throughout 2016, with the market also “in rude health” for Q1 2017 according to Shoreham Vehicle Auctions.

Alex Wright, Shoreham’s managing director takes to the podium.

The Lancing-based auction house reported a 92% average conversion rate on ex-fleet stock for the whole of 2016, adding that increasing pressures from pre-registration and PCP-financed three-year-old vehicles are having no effect on the market.

Shoreham also said the large amount of fleet volume coming to the market has been well received by buyers looking to fill their forecourts with stock after an above normal retail period around Christmas.

“We’ve seen no dip in the three-year-old market for over two years,” explained Alex Wright, managing director at Shoreham. “With buyer demand, residual values of three-year-old stock is very strong and far enough away from the price of new vehicles sold through PCP to affect used sales of defleeted models.

“Despite rising PCP pressures forecast during the plate-change period and before the planned Vehicle Excise Duty increases in April, we expect the used three-year-old, ex-fleet market to remain buoyant, even with an influx of stock expected soon after,” added Wright.