Fleet and lease values rise in March
Average values for fleet and lease saw a slight rise in March, latest figures from BCA show.
The figure of £11,546 at BCA in March 2019 shows a modest 0.2% (£25) month-on-month increase and was up 3.8% (£424) compared to a year ago.
The retained value against original MRP (Manufacturers Retail Price) was down marginally at 44.09% compared to 2018. Average age at time of sale has risen slightly to 39.9 months, with average mileage of 39,381 down by 194 compared to a year ago.
The headline figure of £9,693 fell back 1.1% (£105) from the previous month due to a changing model mix as a higher percentage of dealer part-exchange cars reached the market following the plate-change on 1st March. Year-on-year, the headline value was marginally ahead by 0.3% (£25).
Stuart Pearson, COO BCA UK remarketing, commented: “The seasonal run of public holidays over the Easter period and into May has the ability to put pressure on the market at a time where supply is typically plentiful. As ever, our advice is for vendors to be disciplined around the remarketing process with enhanced preparation, accurate descriptions, comprehensive documentation and, most importantly, realistic reserve setting ensuring that buyers remain actively engaged.”