Secondhand values rise in Q1

In its Pulse Report for 2007 Q1 the auction house found values for both fleet and lease vehicles and part-exchange models rose from the record levels recorded in the final quarter of last year to new heights. Values for these vehicles have continued to rise at auction with nearly-new continuing to perform strongly.

During the quarter values for three-year-old, 60,000 mile fleet and lease cars averaged £6,913, a new quarterly record value, with values in March comfortably breaking the £7,000 barrier. The rise was seen in all sectors except MPVs which remained static. Average part-exchange values increased for the second quarter running and at £3,182 reached a record level during Q1. Part-exchanges are now nearly three months older, at 38 months, and 2,000 miles more travelled, at 59,434, than they were a year ago. BCA said heavy demand allied to relatively thin stocks earlier in the year helped to strengthen values. However, by the end of the first quarter volumes had significantly increased which indicates demand is driving values firmly upwards. “It is interesting that March recorded the strongest prices, as volumes were beginning to rise,” said Tony Gannon, BCA's communications director. “The March plate-change stimulated a lot of interest in retail sales – both new and used – and this will have had a pull-through effect into the wholesale market," he said.