Fleet News

Ex-fleet used car values remain near record high at BCA

Average values for ex-fleet and lease cars sold at BCA in November remained near record levels.

Average values for ex-fleet and lease cars sold at BCA in November remained near record levels.

The remarketing company's Pulse Report says the figure of £10,643 is the fourth highest it has recorded.

Retained value against original MRP (manufacturers retail price) was 42.30% in November. Year-on-year values were up by £620 (6.0%), as both average age and mileage continued to reduce.

Fleet/lease Ave age (months) Ave mileage Ave value Sales v MRP
Nov 2016 38.69 42,497 £9,995 41.86%
Nov 2017 38.25 40,526 £10,643 42.30%

 

The report also showed that overall average used car values rose during November, with the headline figure climbing by £40 (0.4%) to £9,404 – a record value for the third month running.

Demand improved from October and a change in model mix saw BCA handle a larger percentage of higher value corporate stock during November than the previous month.

Year-on-year, the headline figure was up by £773 – the same figure as last month and equivalent to an 8.9% increase in average values – a result reflecting both the steady demand, well-balanced supply and the richer mix of cars available at BCA over the past 12 months.

Buyer demand was strong for good quality stock, but the usual seasonal market trends saw some pressure on values for poorly presented, higher mileage vehicles.

Stuart Pearson, BCA MD UK remarketing, said: "Buyer demand was good in November and ready-to-retail cars continue to attract the buyer’s attention and churn quickly.

"Poorer condition, older and higher mileage examples need to be accurately appraised and valued in line with market expectations."



Click here for remarketing best practice and procurement insight

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Comment as guest


Login  /  Register

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee