Fleet News

Fleet and lease hit record levels

AVERAGE values for fleet and lease cars hit record levels in September, breaking the £7,000 barrier for the first time, while values in August fell below the £6,500 benchmark for the first time in six months.

A large spike in demand saw average fleet and lease values rise by nearly £1,000 between August and September, according to the latest data from BCA.

Across the third quarter as a whole, average values in the fleet and lease sector were just £14 behind last quarter’s record-breaking figure of £6,625. Q3 was 4.8% ahead of the same period in 2005.

For the second quarter running, the nearly-new sector again scaled new heights, setting another record value of £15,280.

In Q3 2006, prices for the three-year-old, 60,000 mile car averaged £6,611 – down just £14 on last quarter’s record breaking figure and the second highest average quarterly value recorded for fleet and lease stock in nearly three years.

With average mileage rising by over 1,400 against last quarter, this would more than account for the small drop in value. Year on year, the rise is a more substantial £305, equivalent to 4.8%.

Average performance against CAP Clean by fleet and lease cars increased by 1.5 points to record the highest figure this year.

It is also notable that Q3 has proved the high point for CAP values for the past three years.

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