Fleet & lease values rise in February
Fleet & lease used car values at BCA increased in February while the overall average used car figure hit its fourth highest level on record.
The firm’s latest Pulse Report figures show fleet & lease values remained static compared to January with an increase of 0.6% (£69) to £11,522 but were up 6.7% (£730) compared to a year ago. The retained value against original MRP (Manufacturers Retail Price) improved by three-quarters of a point to 44.04% compared to 2018. Average age at time of sale has risen slightly to 39.7 months, with average mileage falling by over 1,500 miles compared to a year ago.
Average values rose to £9,798 – up 3.3% (£322) on January and 3.2% (£300) compared to February 2018, due to the increased values for fleet & lease as well as dealer part-exchange vehicles. Average age was up slightly from 54.9 months to 56.3 while average mileage fell slightly from 48,514 to 48,400.
Stuart Pearson, COO BCA UK remarketing, commented: “Since the turn of the year we’ve seen good demand from buyers for vehicles that are accurately priced and with good provenance. The focus has definitely been on quality, value and the ability to turn stock quickly.”
Pearson added: “BCA has seen a long-term evolution in average used car values across the board which reflects both the wide choice and excellent quality of stock we offer on behalf of our vendors and the consistent demand from professional buyers to meet their retail needs.”