BCA reports record prices for former fleet and lease cars
08 November 2018
Author: Sean Keywood
Average values of ex-fleet and lease cars reached a new record high in October, according to auction firm BCA.
Improving by £31 month-on-month, the average value for the sector reached £11,902 - the sixth time this year a new record value has been achieved.
This represents a year-on-year rise of £1,046, or 9.6%, with the average age of vehicles rising and mileage falling.
Overall values at BCA were down month-on-month by £98, or 1.0%, to £9,783, which the firm puts down to a shifting overall model mix and a higher percentage of dealer part-exchange cars being sold, although it's still a year-on-year increase of £419, or 4.4%.
Although dealer part-exchange sales affected the overall market figure, the sector itself rose month-on-month by £204, or 4.0%, to a new record high average of £5,335 - the ninth month in a row a new record has been set.
Year-on-year, this meant a gain of £595, or 12.5%, with average age and mileage decreasing.
Values for nearly new vehicles fell back month-on-month for the first time since March, by £1,623, but the figure of £23,688 was still the fourth highest this year and £5,835, or 32.6% ahead of the same month last year.
As always, BCA says the effect of model mix and availability is significant in this very low volume sector.
BCA COO for UK remarketing Stuart Pearson said: "Even with the usual seasonal distraction of the half-term holidays towards the end of the month, values remained on a high with the best retail quality cars typically outperforming guide expectations by a significant amount.
"As we approach the end of 2018, many dealers are starting to focus on building stock levels in readiness for the typically busy first quarter of the New Year.
"Due to BCA's diverse customer base, we are anticipating a healthy supply of product through to the year end and have a busy programme of sales planned to support our customers."