Used car sector sees sustained demand in 2018
Average used car values at BCA saw steady rises throughout 2018, reaching a new record in December while average fleet & lease values saw a double-digit increase over 2017.
The new data shows that overall average used car values rose 2.7% (£273) year-on-year in December.
Average fleet & lease values in December rose to £11,790, the third highest point on record and significantly ahead of the same period in 2017. Average values were up by £1,186 (11.2%) versus the same month last year. The retained value against original MRP (Manufacturers Retail Price) slipped by just a half a percentage point to 44.15%.
Stuart Pearson, BCA COO UK remarketing, said: “With data now available for the full calendar year, it is clear that the used car sector experienced sustained demand in 2018. BCA saw values rise steadily during 2018, with professional buyers competing strongly for stock both in-lane and via BCA Live Online. Both fleet & lease and dealer part-exchange average values have seen double-digit percentage increases over 2017 figures.”