The headline used car value at BCA increased in May, with the average value of £9,262 just slightly ahead of April’s figure.
CBVC Vehicle Management’s Re-Lease used car solution is growing due to demand from company new starters or employees who have opted out of company car schemes.
On average, used values fell by 3.1% in May at the three-year, 60,000-mile point, following a 2.3% drop during April, says Cap HPI.
The used car market is undergoing a market correction, and the pace of change has accelerated in May, according to experts at Cap HPI.
The number of used electric vehicles (EVs) has grown by 27% since 2017, according to Cap HPI.
Average values for fleet and lease, dealer part-exchange and nearly-new vehicles all improved compared to the previous month’s figures, says BCA.
The Hyundai Tucson was the UK’s fastest-selling used car in March, according to the latest report by Indicata.
Fleet and lease values averaged £11,522 at BCA in February 2019, a modest increase of £69 over January, but a significant £730 (6.7%) uplift compared to a year ago.
February saw the first downward movement of used car values in the month since 2008 with a fall of 0.6%, according to Cap HPI.
The mileage of an average used car aged between 2.5 to 3.5 years old dropped from 39,583 miles in 2008 to 31,199 in 2018 – a 21% decline, according to Cap HPI.
A no deal Brexit is so close contract hire and leasing companies are now frantically reviewing what plans they have in place should the industry suddenly find it difficult to access the supply of key brands.
The used car market is predicted to fall to 2.02 million transactions in the first quarter of the year, according to new research from Cox Automotive.
Diesel cars are continuing to perform well in the used car market, with a higher rate of price growth than petrol models.
Snows Group has appointed BCA to support its used car programme, with a new three-year contract.
Independent vehicle auction company, G3 Remarketing, has announced a record-breaking year for the business in 2018.
Average prices of diesel and petrol vehicles in the used car market rose to a record high in Q4 2018, reports Aston Barclay.
by Rupert Pontin, director of valuations at Cazana
Eden Motor Group has signed an exclusive two-year deal with BCA to support its used car programme.
Average downward movements were visible for each mainstream sector, with MPVs and SUVs the worst affected.
New diesel car sales are falling so quickly that there could be shortages of them on the used market, says the Vehicle Remarketing Association (VRA).
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