The headline average value of a used car fell by £66 in June, demonstrating little change in the market but in the fleet and lease sector average values slipped by 3.3% over the month.
Average values in the fleet and lease sector declined by £347 compared to May, but remained above £10,000 as they have throughout 2017.
Retained value against original MRP (Manufacturers Retail Price) fell by nearly a point to 41.91%, whilst year-on-year values were up by £430 (4.4%), as both age and mileage continued to reduce.
Year-on-year, the headline figure was up by £597, equivalent to a 7.2% increase in average values – a result reflecting steady demand and also influenced by BCA offering a richer mix of stock with a lower age and mileage profile over the past 12 months.
Average mileage declined by around 3,500 miles, whilst age fell by three months compared to a year ago.
Stuart Pearson, BCA Managing Director UK Remarketing commented “The summer months typically see some pressure exerted on average values so we are not surprised to see the headline figure fall slightly in June, as it has done in previous years. Supply is balancing out with demand and conversion rates are showing signs of improvement with buyers continuing to compete strongly for good retail-quality stock.”