Used values continued to rise during August, says BCA
Average vehicle values from the sector were up £101 compared to July, reaching a new record of £8,154 and beating last August by 12.9%. Fleet and lease vehicles sold last month averaged 40.81 months old, with 48,346 miles on the clock, down slightly at -0.04% and -2.9% respectively, while performance against CAP improved from 97.24% in July to 97.59% compared to August 2011.
BCA communications director Tony Gannon said: August provided another welcome result for vendors, but the short term prospects suggest that volumes will rise from mid-September onwards. This traditionally exerts some pressure on average values and conversion rates and that could be even more pronounced this year thanks to the continuing uncertainty surrounding the economy and the pressure on consumer disposable income.’
The market was otherwise slightly more stable. Values increased 4.5% across the board, with slight increases in age and average mileage, while nearly new vehicle values were almost identical to July.