Latest full-year figures from the BCA Pulse report show that Fleet & Lease values improved by £566 to £9,455, a rise of 6.3%, with age remaining static at just under 40 months and average mileage increasing by around 1,000 miles to 46,700. Performance against CAP Clean fell slightly to average 96.55% across the year. Average sale price compared to original cost new improved slightly to 42.39% in 2014, from 42.13% the previous year

Meanwhile across the board, the average value of a used car sold at BCA in 2014 was £7,622, a rise of £566 compared to 2013 and marking the highest annual figure on record at BCA. Average age and mileage have declined for the second year running, reversing the trend that was seen at the start of the decade. Performance against CAP Clean was marginally higher compared to 2013 and was the highest average annual figure recorded in the past five years.

BCA’s UK operations director Simon Henstock said that the relative shortage of stock, due to low new car sales following the onset of recession, has helped keep values high but added that new car volumes have improved notably in 2013 and 2014. He also cited rising confidence, an improving jobs market, a stable economy, historically low interest rates and low inflation as contributing factors in the strong new and used car markets seen over the past two years.

Looking ahead, Henstock said that the market may see some changing dynamics on the supply side as rising numbers of nearly-new cars and returning PCP volumes add to the mix of fleet/lease vehicles and dealer part-exchange cars.

He said: ‘Adding to the interest in 2015, we have a General Election. These are a fact of life and it is impossible to gauge the effect that the ensuing result may have on the wider economy. History tells us there can be some initial uncertainty in the marketplace whoever prevails but this soon settles down and it is business as usual. What might be more worrying is if there is no clear cut decision from the electorate and we end up with a hung parliament.’

He concluded: ‘This means sellers should take nothing for granted and stay close to the market in the months ahead, working closely with their remarketing supplier to ensure their vehicles are properly appraised and valued to reflect both the condition and grade, as well as prepared and presented to a high standard to attract wholesale buyers.’