Average values for used fleet and lease vehicles reached record levels in October, as demand continued to drive up values.
BCA has seen values rise steadily during 2018 with fleet and lease values hitting record levels six times this year.
Average fleet and lease values improved by £31 in October to reach £11,902, according to BCA’s Pulse report.
With the overall model mix shifting from September, the average month-on-month value for all used cars at BCA slipped by just £98 (1.0%) during October 2018, driven mainly by a higher percentage of dealer part-exchange cars sold during the month. October’s value of £9,783 was the third highest point recorded since Pulse began publishing and year-on-year values were ahead by £419, a 4.4% rise over the 12-month period.
Stuart Pearson BCA COO UK remarketing, said: “October was another record breaking month at BCA, with average values for fleet and lease cars and dealer part-exchange vehicles continuing to rise. The used car sector remains a highly competitive environment with professional buyers bidding strongly across the range of stock on offer at BCA. Even with the usual seasonal distraction of the half-term holidays towards the end of the month, values remained on a high with the best retail quality cars typically outperforming guide expectations by a significant amount.”