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Plate change impacts volume mix and used values in March, finds BCA

By / 5 years ago / Latest News / No Comments

Dealers sold a greater number of part-exchange vehicles following on from the new registration plate on 1 March.Year-on-year, however, the headline figure was up by £314, equivalent to a 4.1% rise.

Simon Henstock, BCA chief operating officer UK remarketing, commented: “BCA reports a strong used car marketplace in March, with buyers being exceptionally active both in the auction hall and online.Reflecting seasonal patterns, we saw greater volumes from dealer part-exchange sources and this shift in the market mix impacted the headline value.

“The plate change period inevitably sees volumes rise substantially in the wholesale markets and stock levels traditionally remain high until at least early May. Any uplift in volume has the potential to change the balance in supply and demand and can impact on values as buyers simply have more choice.

“As volumes increase, we are advising sellers to pay attention to the basics of remarketing.  Presentation and preparation are a given, and it is vital to properly identify and declare the specification, particularly if there are a lot of base-spec models about. Providing the service history at the point of sale is also important and can have a real, tangible effect on the potential prices vehicles might achieve,” he added.

Year-on-year table: All cars

All cars

Avg Age

Avg Mileage

Avg Value

Mar 2015

 63.13

56,059

£7,524

Mar 2016

60.57 

52,382

£7,838

Fleet & lease car values averaged £9,741 at BCA in March, an increase of £79 (0.8%) compared to February’s figure of £9,662. Retained value against original MRP (Manufacturers Retail Price) improved to 42.2%, with age and mileage broadly static. Compared to March 2015, average fleet & lease values were up by £71, with retained value marginally down.  

Year-on-year table: Fleet & lease

Fleet/ Lease

Avg Age (months)

Avg Mileage

Avg Value

Sales vs MRP

Mar 2015

 40.26

46,357

£9,670

 42.71%

Mar 2016

39.23 

42,173

£9,741

 42.40%

Having fallen in February, BCA found that average values for dealer part-exchange cars improved by £127 (2.9%) to £4,382 in March, the highest monthly value since the record value set last October. Year-on-year values remain ahead by £198 (4.7%).   

Year-on-year table: Part-Exchange

Part-Exchange

Avg Age (months)

Avg Mileage

Avg Value

Mar 2015

 90.02

70,006

£4,184

Mar 2016

89.87 

68,689

£4,382

 

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Katie Beck

Katie joined Fleet World in 2012 as an editorial intern, following the completion of an English and American Literature BA from the University of East Anglia. She accepted a full-time position as an editorial assistant at the end of the internship period, and was promoted to the role of features editor in 2014. She works across the magazine and website portfolio, and administrates the social media channels.