Average values of ex-company cars sold at BCA accelerate to a new record high
Average values of ex-company cars continued to rise in
October, improving by £31 compared to the previous month, to reach £11,902 -
the sixth time a new monthly record value has been achieved in 2018, according
to data collected by vehicle remarketing giant BCA.
The retained value against original MRP (manufacturers’
retail price) was steady at 45.32%.
Year-on-year values improved by a substantial £1,046 or 9.6% over the
year from £10,856, with age rising to an average 38.94 months and mileage
falling to an average 38,521 miles.
Demand continued to drive up values with BCA reporting that
it had seen values rise steadily during 2018, with professional buyers
competing strongly for stock both in-lane and via BCA Live Online.
With the overall model mix shifting from September, the
average month-on-month value for all used cars sold at BCA slipped by just £98
(1%) during October 2018, driven mainly by a higher percentage of dealer
part-exchange cars sold during the month.
October’s average value of £9,783 was the third highest point recorded
since the data began to be published 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
He added: “As we approach the end of 2018, many dealers are
starting to focus on building stock levels in readiness for the typically busy first
quarter of the New Year.”