For the second month running, average used car values rose across the board.<\/p>\n
According to BCA\u2019s Pulse report, record average monthly values were achieved in the fleet and lease sector.<\/p>\n
Nearly-new values also improved during the month of May.\u00a0 As a result, the headline average value of a used car rose to its highest point on record in May, improving by \u00a3106 (1.3%) to \u00a38,261.\u00a0 Year-on-year, the headline figure was up by \u00a3458, equivalent to a substantial 5.8% rise.<\/p>\n
Simon Henstock, BCA chief operating officer UK Remarketing, said: \u201cMay is typically a slower month for the used vehicle sector, with the two Bank Holidays often proving disruptive to trading patterns.\u00a0 However, average values for fleet\/lease and dealer part-exchange cars continued to rise and remain at record levels.<\/p>\n
\u201cWe are seeing a two-tier market develop where the very best presented cars are attracting a lot of attention from buyers, while poorer condition examples need to be realistically valued if they are to compete.\u00a0 Ready-to-retail stock is very desirable and it is noticeable how the best grade and specification cars in attractive colours can outperform the rest of the market by some margin.<\/p>\n
\u201cIn contrast, vehicles in poor condition and at above average mileage should be carefully appraised and sensibly valued in line with the condition report in order to attract buyers and sell first time.\u00a0 Where appropriate, consider SMART repairs for quick wins on damage, particularly for scuffed alloy wheels, chipped or scratched paint, minor dents to bodywork and missing trim.\u201d<\/p>\n
Year-on-year table: Cars<\/strong><\/p>\n All cars<\/strong><\/p>\n<\/td>\n Avg Age<\/strong><\/p>\n<\/td>\n Avg Mileage<\/strong><\/p>\n<\/td>\n Avg Value<\/strong><\/p>\n<\/td>\n<\/tr>\n May 2015<\/strong><\/p>\n<\/td>\n 60.88<\/p>\n<\/td>\n 55,029<\/p>\n<\/td>\n \u00a37,803<\/p>\n<\/td>\n<\/tr>\n May 2016<\/strong><\/p>\n<\/td>\n 58.06<\/p>\n<\/td>\n 52,292<\/p>\n<\/td>\n \u00a38,261<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n <\/p>\n Despite a small rise of just \u00a37 over the month, fleet & lease car values reached record levels of \u00a39,906 at BCA in May, the fourth consecutive month-on-month rise.\u00a0 Retained value against original MRP (Manufacturers Retail Price) fell marginally to 41.9% from 42.1% in April, with age and mileage steady.\u00a0 Compared to May 2015, average fleet & lease values were up by \u00a3187 (1.9%), with retained value static and average mileage and age falling.<\/p>\n Year-on-year table: Fleet & lease<\/strong><\/p>\n Fleet\/ Lease<\/strong><\/p>\n<\/td>\n Avg Age (months)<\/strong><\/p>\n<\/td>\n Avg Mileage<\/strong><\/p>\n<\/td>\n Avg Value<\/strong><\/p>\n<\/td>\n Sales vs MRP<\/strong><\/p>\n<\/td>\n<\/tr>\n May<\/strong> 2015<\/strong><\/p>\n<\/td>\n 39.90<\/p>\n<\/td>\n 45,732<\/p>\n<\/td>\n \u00a39,719<\/p>\n<\/td>\n 41.95%<\/p>\n<\/td>\n<\/tr>\n May 2016<\/strong><\/p>\n<\/td>\n 39.14<\/p>\n<\/td>\n 43,637<\/p>\n<\/td>\n \u00a39,906<\/p>\n<\/td>\n 41.93%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"\n\n
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