The data finds that fleet & lease values averaged £9,899 last month; an increase of £158 (1.6%) compared to the March figure of £9,741 and the third consecutive month-on-month rise.

Retained value against original MRP (Manufacturers Retail Price) was broadly static at 42.1%, with age and mileage steady. Compared to April 2015, average fleet & lease values were up by £199 (2.0%), with retained value down by 0.3 of a percentage point. Both average mileage and age when sold declined compared to 2015.

BCA’s data also shows that the headline average value of a used car rose to its highest point on record in April, improving by £317 (4.0%) to £8,155. Year-on-year, the headline figure was up by £283, equivalent to a 3.6% rise.

Simon Henstock, BCA chief operating officer UK remarketing, commented: “Despite the Easter Bank holidays typically heralding a slowing in the marketplace, buyer demand was strong across the range of vehicles on offer at BCA in April, reflecting an underlying confidence from the trade to acquire stock.”

Looking at the average price performance by model shape, values generally rose in April compared to March, with hatchbacks rising by 5.6%, MPVs by 3.4% and the typical spring rise for convertibles resulting in a 2.6% improvement over the month. Coupes and Roadsters experienced some very minor price pressure, with values falling by 0.8% and 0.2% respectively.

Henstock added: “However, we are expecting seasonal pressures to make themselves felt during May as volumes rise and demand typically softens. This is very likely to put pressure on price and conversion rates for volume vendors and means sellers should pay attention to remarketing processes and disciplines in the weeks ahead.”

He continued: “This again underlines the importance of accurate appraisals and realistic valuations to generate buyer interest for sale stock. A typical snapshot of condition ratings would show that less than 10% of cars entered for sale are genuinely Grade 1, yet a far greater percentage are reserved at CAP Clean or above. Unless sellers are pricing in line with condition and market sentiment we may start to see a build-up of unsold stock across the remarketing sector.”