Average values under pressure but fleet vehicles show strength
Seasonal factors put pressure on average used car values in April but year-on-year values for fleet & lease vehicles continued to climb at BCA.
The firm’s data for April shows average values stood at £9,248 – down 4.6% compared to the figure of £9,693 for March 2019 while the year-on-year figure was down 3.5%, with average mileage up to 49,299 and average age up to 58.31 months.
Average fleet & lease values stood at £11,406 in April 2019; down 1.2% on the £11,546 seen in March 2019 but up 2.4% on the figure of £11,137 for April 2018. The retained value against original MRP (Manufacturers Retail Price) was down a percentage point at 43.1% when compared to 2018. Average age at time of sale has risen to 39.8 months, while the average mileage of 38,916 was down compared to a year ago. Values were also up year on year for dealer part-exchange and nearly new vehicles.
Stuart Pearson, COO BCA UK remarketing, said: “As predicted last month, the seasonal run of public holidays over the Easter period and into May has put pressure on the market at a time when supply is typically plentiful. As ever, our advice is for vendors to be disciplined around the remarketing process with enhanced preparation, accurate descriptions, comprehensive documentation and, most importantly, realistic reserve setting ensuring that buyers remain actively engaged.”
He added: “Buyers have been particularly cautious as we’ve seen values shifting on an almost weekly basis since the start of April. Based on the sustained increase in values over many months, some realignment is therefore not unexpected and isn’t unusual for this time of year.”