Analysis from BCA in its Quarter 2 Pulse report shows that average values for fleet and lease stock reached £7,114 in June with an average age of 38.1 months and mileage of 58,573.
The strong performance in June’s market helped average values hit £7,130 for the second quarter of the year (April to June), up by £217 on the previous quarter and £505 year-on-year.
Nearly-new values also rose – up £2,355 compared to the previous average of £15,109, thanks to a number of models being entered from manufacturers.
The news comes despite tougher economic conditions with used car buyers seeing five interest rate rises in a year.
BCA’s communications director, Tony Gannon, said: “These figures show the strength in depth of the used car market.
“Despite increased volumes and a more uncertain economic outlook, values for fleet/lease and nearly-new cars have risen, while part-exchange values have held firm.”
Mr Gannon praised the volume vendors for adopting sensible values for their stock and ensuring the vehicles are properly prepared for sale.
He added: “While there are still issues with unsold cars and over-optimistic reserve prices, it is encouraging to be able to report on strong values for the quarter and the highest June prices on record.”