A change in mix saw the headline used car value fall by 2.2% in June compared to May while values in the fleet and lease sector continued to rise, according to BCA’s latest Pulse Report.
BCA’s figures show that average values fell by £134 to £5,964 in June. Despite this, fleet values reached a new high point, averaging over £8,000 for the first time on record as BCA sold a slightly richer mix of cars from fleet and lease operators during the month.
Part-exchange values also posted a small month-on-month rise of £27. Nearly-new values fell by nearly £2,000, entirely as a result of changing model mix as fewer prestige and executive cars reached the market in June.
Across the board, used cars averaged 96.1% of CAP Clean in June, up by half a point compared to May, while average age and mileage both rose marginally over the month, up to nearly 63 months and 60,000 miles.
Year-on-year, June 2012 average values are a substantial 5.3% ahead of 2011, while average age and mileage have climbed by 6.0% and 2.5% respectively in the same period.
BCA’s communications director Tony Gannon said: “Volumes are down month on month, and year-on-year for that matter, underlining the shortage of supply reaching the marketplace.”
Fleet & lease cars averaged £8,042 in June, up £106 (1.3%) month-on-month and the highest average monthly value recorded since Pulse began reporting in 2005.
CAP performance climbed by over a point to 96.8% with the average age rising marginally and average mileage climbing by nearly 500 miles over the month. Performance against original MRP (Manufacturers Retail Price) was level month-on-month at 39.6% for the second month running.
Year-on-year, the fleet & lease sector recorded a significant 13.7% uplift (compared to the 7.9% rise seen last month), with CAP comparisons improving by over 2 points.