Motor Finance highlights some of the key figures from the BCA, Manheim and the ONS.
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Analysis
Average used car values at BCA rose by £275 (2.7%) to a record level of £10,141 in December as a strong month’s trading closed the year. Buyer demand remained positive for good quality stock, while seasonal market trends and the shorter trading period saw some shift in model mix. Average values improved for fleet & lease stock and nearly-new vehicles, while dealer part-exchange values were broadly static.
Year-on-year, the headline figure was up by £273, equivalent to a 2.7% increase in average values that reflected the steady demand and well-balanced supply of cars available at BCA over the past 12 months.
Professional buyers were active throughout the month building forecourt stock for the New Year and demand carried on to BCA’s digital platforms over the Festive Season. The shorter trading period and the seasonal influences on stock mix certainly created strong competition for vehicles that were ready for retail.
BCA saw values rise steadily during 2018, with professional buyers competing strongly for stock both inlane and via BCA Live Online. Nearly-new values are a third higher on average than in 2017. Average fleet & lease values in December rose to £11,790.
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