BCA has reported that used vehicle values in April continued to increase due to strong demand. Fleet and lease values rose to £11,137, the highest point on record, while dealer part-exchange prices broke the £5,000 barrier for the first time. Values also increased for nearly-new vehicles, although BCA stated that model mix has a significant influence in this low-volume sector.
Despite this, the headline average value declined to £9,584, a fall of £84 (0.8%), due to a changing model mix as dealer volumes increased. Year-on-year, average values are up by £494, a 5.4% rise.
Stuart Pearson, BCA COO UK Remarketing, commented: “Buyer demand was high and conversion rates stayed strong in April, despite the Easter holidays and some unseasonably poor weather. Professional buyers remain very active, reflecting the strong retail demand that has been widely reported.”
Year-on-year values for fleet and lease stock were up by £664 (6.3%), with age and mileage declining. Average dealer part-exchange values increased by £105 (2.1%) over the month. Year-on-year values were ahead by £324, representing a substantial 6.9% uplift; age remained static, although mileage has risen.
Values for nearly-new vehicles improved to £19,170, a rise of £301 (1.5%) compared to March and up by £1,142 (6.3%) year-on-year.