Fleet Values Rising
(Posted on 09/11/17)
Average values continued to rise in the fleet and lease sector, improving for the fourth consecutive month and reaching a record level for the third month running, according to British Car Auction’s (BCA) Pulse Report.
Values rose by £78 (0.7%) to £10,856 with retained value against original MRP (Manufacturers Retail Price) falling slightly to 43.16%. Year-on-year values were up by £620 (6.0%), as both average age and mileage continued to reduce.
The market experienced the usual seasonal fluctuations around the October half-term school holidays, but overall BCA reported another strong trading month as volumes at auction remained high during October.
Average values for fleet and lease cars were at record levels for the third month running as buyers focused on good quality, well-specified one-owner cars. Average dealer part-exchange values fell marginally from the record level seen in September, but were the second highest on record and demand remained strong in the sector.
Year-on-year, the headline figure was up by £773 - equivalent to an 8.9% increase in average values – a result reflecting both the steady demand, well-balanced supply and the richer mix of stock available at BCA over the past 12 months.
Stuart Pearson, MD UK Remarketing at BCA said: “October was another busy month at BCA with plenty of competition from professional buyers across the range of stock on offer. We experienced good levels of demand from buyers, with just the usual seasonal distraction of the half-term holidays towards the end of the month. Online trading was strong throughout, with BCA reporting record traffic for Live Online in the first week of October and sales penetration rising to 28% across the board, a year-on-year increase of four percentage points.”
He added: “As we approach the end of 2017, many dealers will often start to build stock levels in readiness for the typically busy first quarter of the New Year. BCA is anticipating a healthy supply from all sectors throughout December and has a busy program that will keep stock churning for our vendors and buyer interest fuelled.”
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