BCA has managed to keep its prices firm during May due to the high demand from buyers. Its average values hit near record levels – the headline average value fell by just £16 to £9,568 in May, the average values were up by £707 year-on-year, and there was a 7.9% rise over the 12-month period. May’s average value is the fourth highest on record.
Fleet & Leave values reduced marginally from last month’s record to £10,963, while Dealer Part-Exchange values remained at a record high of £5,000 for the second month running. Values increased for nearly-new vehicles, although model mix has a significant influence in this low volume sector.
“Professional buyers have continued to compete strongly for good quality used car stock, a pattern that reflects the high levels of retail demand that dealers have been reporting throughout this year. The seasonal dip that is often felt at this time of year hasn’t been so significant and the strong demand has driven conversion rates, meaning stock is churning quickly which is good for buyers and sellers alike,” said Stuart Pearson, BCA COO UK Remarketing.
Average fleet & lease values slipped by just £174 (1.5%) to £10,963 from last month’s record value of £11,137. Despite this, values for fleet and lease cars in May were the third highest on record. Retained value against original MRP (Manufacturers Retail Price) fell by half a percentage point to 43.54%. Year-on-year values were up by £517 (4.9%), with age rising and mileage declining, although both by small margins.
Average dealer part-exchange values remained at a record level, staying at £5,000 for the second month running. Year-on-year values were ahead by £342, representing a substantial 7.3% increase over the 12-month period with age and mileage falling slightly.
Values for nearly-new vehicles improved for the second month running, rising by £1,040 (5.4%) compared to April to reach £20,210. Values are up by £1,864 (10.1%) year-on-year. Model mix has a significant effect in this very low volume sector, with brand specific winners and losers.