Share this news on:Average value | 13 DECEMBER 2018
Average values for an ex-company car sold by vehicle remarketing giant BCA in November were £11,682, the third highest on record and were up by £1,039 (9.7%) versus the same month last year (£10,643).
October saw the highest average price for ex-fleet and lease cars sold by BCA (£11,902), which was just ahead of September’s £11,871. The fact that the three highest prices for defleeted company cars were recorded at BCA in the last three months underlines the continuing strength of the used market.
The retained value against original MRP (manufacturers’ retail price) slipped by just a percentage point to 44.78% on October (November 2017: 42.3%) with the average age of cars sold fractionally up on 12 months ago (38.77 months) and average mileage lower at 38,445 miles.
BCA’s report shows that overall, including nearly-new and part-exchange as well as ex-fleet and lease cars, average used values rose by £83 to £9,866 during November 2018, the third highest figure on record. Year-on-year, the headline figure was up by £462, equivalent to a 4.9% 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, said the company.
Buyer demand remained strong for good quality stock, said BCA, with competitive bidding in-lane and online.
Stuart Pearson BCA COO UK Remarketing, said: “There were good levels of confident trading activity at BCA during November across all sectors, with both high volume buyers and independent dealers competing for stock.
“This has carried on into December as professional buyers look to build stock levels for their retail forecourts in the New Year.
He added: “BCA has seen values rise steadily during 2018, with professional buyers competing strongly for stock both in-lane and via BCA Live Online. Underlining this, fleet and lease values have reached record levels six times in 2018.”