fleet/lease diesel cars enjoyed a substantial price premium over
petrol throughout 2008, despite the differential in fuel costs, and
that the diesel cars were sold at a higher average mileage.
However, that premium has narrowed in 2009.
Average diesel values held up remarkably well during the early part
of 2008, despite the many economic pressures impacting on the used
car market. Values actually increased during the first quarter, and
only started to fall when the fuel price was at its peak, in the
early spr
ing months.
From then on, values followed the rest of the market in falling
steadily until late in the year, with the exception of September,
which saw a short-lived spike in values.
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Values recovered sharply in January of this year and have
continued upwards in February. The price differential in diesel’s
favour remains significant at around £500 (11 percent), but is
noticeably less than a year ago, when the difference was just under
£1,000 (18 percent).
Petrol values declined steadily throughout Q1 and Q2, before
recovering in September and then falling again in October and
November. Petrol prices recovered a month earlier than diesel,
however, and have been climbing since last December.
What is certain is that there are a number of factors affecting
the relative price performance of the two fuel types in the used
car market. The price paid by motorists at the pumps is
significant, and will affect desirability. But motorists don’t
consider this in isolation – BCA’s research for the Used Car Market
Report shows that drivers also value diesel’s perceived relative
economy in terms of mpg and lower servicing costs.
In the remarketing arena, supply and demand is the critical
price-driver, and as fleets have registered increasing numbers of
diesel cars in recent years, it is tempting to suggest that used
fleet diesels will continue to get relatively cheaper. However, if
motorists follow the lead set by fleet operators – as they
inevitably do – we could see increasing demand for used diesels
matching the rising supply of stock available to the market.
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By GlobalDataTony Gannon, communications director, BCA
Fleet vehicles: residual values
|
1 year old |
2 years old |
3 years old |
||||
|
Feb 09 (£) |
Mar 09 (£) |
Feb 09 (£) |
Mar 09 (£) |
Feb 09 (£) |
Mar 09 (£) |
|
|
Ford: New Focus 1.6 Zetec 5dr |
6,000 |
6,000 |
4,800 |
4,800 |
3,800 |
3,800 |
|
Mondeo 1.8 LX 5dr A/C |
5,800 |
6,000 |
4,500 |
4,600 |
3,200 |
3,300 |
|
New Galaxy 2.0 Zetec/Galaxy 2.3 |
11,250 |
11,200 |
9,400 |
9,500 |
4,750 |
4,800 |
|
Land Rover: Disc Diesel 2.7 V6 SE |
21,000 |
21,000 |
16,750 |
17,000 |
14,000 |
14,200 |
|
Vauxhall: Corsa 1.2I Design |
6,000 |
6,000 |
4,800 |
4,800 |
3,200 |
3,300 |
|
Astra 1.6 Club 5dr |
5,500 |
5,400 |
4,500 |
4,400 |
3,500 |
3,400 |
|
New Vectra 1.8 Design/Vectra 1.8 |
6,250 |
6,000 |
4,700 |
4,600 |
3,600 |
3,500 |
|
Citroën: C5 2.0 HDI Estate VTR |
7,000 |
6,750 |
5,800 |
5,700 |
4,400 |
4,250 |
|
Peugeot: 307 1.6 S A/C 5dr |
5,200 |
5,000 |
4,000 |
3,900 |
3,000 |
3,000 |
|
407 1.8S Multimedia/407 S 1.8 |
5,600 |
5,500 |
4,450 |
4,400 |
3,400 |
3,300 |
|
BMW: New 325 SE Auto |
14,000 |
14,000 |
12,000 |
12,000 |
10,000 |
10,000 |
|
Mercedes: C200k Elegance SE Auto |
11,000 |
11,200 |
9,600 |
9,750 |
8,200 |
8,250 |
|
Audi: A4 2.0 SE |
11,000 |
10,800 |
9,300 |
9,200 |
7,500 |
7,400 |
|
Source: BCA |
||||||
