BCA latest Pulse data: Fleet values down 4% in November
The report shows that fleet values fell back by 4% (£304) to £7,115 last month, and have declined by around £600 in the past eight weeks. The fall was attributed to declining demand as well as a rise in volumes – fleet and lease numbers increased by around 5% last month.
At £5,792 average values were flat in November, averaging exactly the same as recorded in October. Performance against CAP Clean improved marginally from 96.24% to 96.3%.
Communications director Tony Gannon said: 'While professional buyers remained active in November, there was a noticeable drop off in demand. It is likely that this will continue into December, although we could see a small rally in values as the bigger dealer groups and car supermarkets compete to buy stock in advance of the anticipated busy New Year trading period.'
The news follows Manheim's publication of its own data last week, showing that average Fleet values increased for the second month in a row by 1.7% while average wholesale used car values were also up, marking the first increase in three years.