Motor Finance highlights some of the key figures from the BCA, Manheim and the ONS.
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Analysis
Average used car values improved by £465 during December, with the headline figure climbing to £9,868 – a record value for the fourth month running.
December is the shortest trading month of the year and both the market sector mix and model mix tend to change quite significantly. Fleet and lease stock is typically in more limited supply, whilst dealers continue to sell part-exchange vehicles as a result of their ongoing retail activity. Buyer demand was consistent throughout the month and carried on to BCA’s digital platforms over the Festive Season.
Year-on-year, the headline figure was up by £1,527 equivalent to a substantial 18.3% improvement – a result reflecting both the steady demand, well-balanced supply and the richer mix of cars available at BCA over the past 12 months.
Buyer demand remained strong for good quality stock, while seasonal market trends and the shorter trading period saw some pressure on values for poorly presented vehicles.
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By GlobalDataAverage values for fleet/lease vehicles remained strong, while dealer part-exchange values reached record levels, reflecting the longer term trend BCA has been reporting throughout 2017. Nearly-new vehicle values also improved during December.
Car products sold unit market performance
Employment figures
