Average monthly used car values fell by £375 (6.2%) in April
compared to March according to BCA, a market move typical of the
time of year.
Month-on-month values fell in all three main market sectors,
with nearly-new declining by 5.2%, part exchange down 3.1% and
fleet and lease dropping 1.9%
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Across the board, values fell from £5,974 to £5,599, which is
similar to the pattern in March and April last year. Used cars
averaged 94.6% of CAP Clean in April, compared to just over 97% in
March, while age rose to 64 months and mileage climbed above
60,000.
Year-on-year, April 2012 is behind 2011 by only £27 (half a
percent), while average age and mileage have climbed by 2.1% and
1.5% respectively in the same period.
BCA’s communications director Tony Gannon said: “There were
signs in March that values would be coming under pressure, with the
short-term seasonal uplift in de-fleets and part-exchange cars
increasing supply and with wholesale demand reducing as dealers
balanced their stock.
“It was notable that demand held up best in the fleet and lease
sector, where buyers continue to focus on quality and value, and
competition for the best examples is intense. In the context
of the wider market, good-quality fleet vehicles remain in short
supply and values are relatively strong.
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By GlobalDataHe added: “We are now in that period of the year when demand can
be a little more fragile as families budget for the looming summer
holidays. And there are a lot of distractions ahead – the
Diamond Jubilee, the London Olympics, even Euro 2012 – to divert
attention away from the business of buying and selling cars.”
While the fleet and lease sector experienced some price
pressure, it generally outperformed the wider market, and
year-on-year values were up by £227 (+3%), despite average age and
mileage being slightly up in 2012. Fleet and lease cars
averaged £7,640 in April, down 1.9% from the March figure of £7,795
(which was the highest value in almost two years). CAP performance
fell by two-and-a-half points to 95.9% with the average age
remaining at 41 months, but mileage increasing to more than
49,000. Performance against original manufacturer’s retail
price fell by half a point to 39.6%.
Year-on-year statistics – all cars
|
|
Ave. Age |
Ave. |
Ave. |
Sale vs |
|
Apr 11 |
62.6 |
59,218 |
£5,626 |
92.9% |
|
Apr 12 |
64 (+2.1%) |
60,119 (+1.5%) |
£5,599 (-0.5%) |
94.6% |
