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Fleet and lease values hit record level in September, reports BCA

Used buyer demand has rebounded from the traditional summer slowdown, bringing record highs for both average used car values and fleet and lease values at BCA in September 2019. 

All sectors saw values increase in September, BCA has reported

Average used car values at BCA rose by 8.7% (£823) compared to August 2019 to reach £10,230 – the highest value recorded since BCA Pulse began reporting in 2005. Year-on-year values rose by £349, a 3.5% rise over the 12-month period, despite average age rising to 57.3 and mileage to 48,433 from 57.0 and 48,136 a year ago.

All sectors saw values increase in September, with fleet & lease values averaging £12,160, the highest average value on record for fleet stock and representing a rise of 9.4% (£1,044 ) month-on-month. Year-on-year, values were up by 2.4% (£289) despite both average age and mileage rising. The retained value against original MRP (Manufacturers Retail Price) improved by nearly two percentage points to 43.1% over the month, but was down by 2.3 percentage points, year-on-year.

Stuart Pearson BCA COO UK remarketing, commented: “We saw strong levels of trading, confident bidding and record-breaking price performance across all selling channels in September 2019.

“High levels of demand and competitive bidding across the range of used stock available at BCA, pushed average values for fleet and contract hire and nearly new vehicles to record levels. Physical buyer attendance was complemented by significant bidder interest on BCA’s Live Online platform, with increasing numbers of customers now bidding via the BCA Buyer app.”

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Natalie Middleton

Natalie has worked as a fleet journalist for 16 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.

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