Used car values at BCA in February rise 11% to record £8,822
Average values for fleet and lease stock rose to the second highest point on record, while price performance for dealer part-exchange vehicles remained at near record levels.
February recorded the highest headline figure since Pulse began reporting in 2005, with values rising by £203 (2.3%) to £8,822.
Year-on-year values were up by 11.2% (£893), with average age and mileage falling by five months and 4,500 miles respectively.
Simon Henstock, BCA COO UK remarketing said: "BCA reports strong levels of demand in February, with plenty of interest in retail ready cars.
February was a good trading month, however, the increase in the average selling price is only partially driven by the market.
"The richer mix of product offered by BCA, along with the lower average age and mileage profile is also impacting positively on values.
"The market is anticipating increased part-exchange business and greater volumes from fleet and contract hire sources over the coming weeks.
"With Easter imminent – often a watershed in demand – this could impact on residual values in the weeks ahead and BCA is recommending that volume vendors appraise their sale stock closely to ensure it is valued in line with market expectations."
Source: www.bing.com
