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Average values of corporate cars hit highest point this year

Used car sales are “hotting up” for both demand and average values, with corporate values hitting a high point for 2021 as lockdown eases.

Average values rose by 15.8% (£1,223) during the week commencing 12 April as demand heated up

Latest figures from BCA show values for stock from corporate sellers reached their highest level this year, improving by 2.2% (£269) to reach £12,337 during the week commencing 12 April.

And average values for its online-only sales rose 15.8% – equivalent to £1,223 – to £8,946 during the same week.

Conversion rates improved and sold volumes jumped by 17.0%.

Performance against guide values also accelerated, rising by 1.7 percentage points to 101.9% across the board.

Bidder numbers continued to climb, with average daily online attendance numbers nearing 5,000 as BCA’s digital sales programme offered up to 7,000 vehicles daily during April.

Stuart Pearson, COO BCA UK, said there has been a noticeable increase in confidence and demand, demonstrated by the numbers of joiners, watchers and bidders for its online channels.

He added: “The lifting of some lockdown restrictions, the continued good news about the vaccination rollout and the cautiously improving economic outlook has generated a lot of positivity in the used vehicle sector.”

 

For more of the latest industry news, click here.

Natalie Middleton

Natalie has worked as a fleet journalist for nearly 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. Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news.

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