July values rose to record levels in the fleet and lease sector with a rise in overall values too, latest figures from BCA show.

Fleet and lease values at record levels in July, reports BCA

The data for last month shows average values in the fleet and lease sector improved sharply, rising by £387 (3.8%) compared to June, reversing last month’s fall and climbing to the highest point on record.  Retained value against original MRP (Manufacturers Retail Price) improved slightly to 42.29%, whilst year-on-year values were up by a significant £821 (8.4%), as both average age and mileage continued to reduce.

Average values rose by 1.8% across the board at BCA during July, with the headline average value of a used car up by £167 to £8,962 – a very similar rise to that seen in July 2016. Year-on-year, the headline figure was up by £621, equivalent to a 7.24% increase in average values, despite average mileage having declined by around 2,200 miles, whilst age fell by two months compared to a year ago.

Looking ahead, Stuart Pearson, BCA managing director UK remarketing, commented: “As the market approaches the plate change period, we anticipate a period of intense activity in the wholesale sector. Typically, we would expect to see the usual impact of a brief period of oversupply in October and November when volume reaches a peak, followed by a strengthening of prices and conversions as people start to plan for the New Year.”For more of the latest industry news, click here.