Used values show return to more usual patterns in June, says BCA
Used car market volatility of recent months started to ease in June, bringing more typical seasonal trading, according to BCA.
The firm’s figures for the month show that fleet & lease values averaged £11,372 at BCA in June 2019, ahead by just £2 compared to May, but up by £174 (1.6%) compared to a year ago. The retained value against original MRP (Manufacturers Retail Price) was down by over two percentage points when compared to 2018, largely as a result of both age and mileage at time of sale rising compared to a year ago.
Meanwhile the headline used car value at BCA increased in June, with the average value of £9,463 representing a £201 uplift equivalent to a 2.2% improvement over the month, although it was down by 1.8% or £178 compared to June 2018.
Stuart Pearson, COO BCA UK remarketing, commented: “It’s been a challenging period for the market, as values have shifted at a significant rate over recent months which has created uncertainty. We’ve been working closely with our vendors to keep them informed of trading conditions and our unique real-time BCA Valuations pricing intelligence has helped to accurately value stock to sell first time.”
“While many buyers have continued to focus on the best retail-ready stock that can be turned quickly, everything does have a price. Sellers that have used our intelligence tools to provide accurate condition-based valuations and invested in vehicle preparation have kept their stock churning.”