Average used car values at BCA surged during November 2019, rising by £453 (4.7%) during the month to reach £10,101, the third highest figure on record. Year-on-year, the headline figure was up by £235, equivalent to a 2.4% increase in average values despite both average age and mileage rising – a result reflecting both the steady demand from buyers and a well-balanced supply of stock from vendors.
Buyer demand remained strong for good quality stock, with competitive bidding in-lane, via BCA Live Online and the BCA Buyer app. Average values for fleet & lease, dealer part-exchange and nearly-new vehicles all rose during the month.
Year-on-year table: All cars
Stuart Pearson BCA COO UK Remarketing commented “There were good levels of confident trading activity at BCA during November across all sectors, with both high volume buyers and independent dealers competing for stock.”
He added “With strong demand for stock as we approach the Christmas period and in expectation of continuing high levels of used vehicle activity, BCA is holding a series of special sales across the period between Christmas and the New Year period to support our customers.”
He added “With both in-lane and online sales being staged between Christmas and the New Year, we are giving our customers the opportunity to purchase from a wide selection of vehicles through the choice of channel that meets their needs, physical, Live Online, BCA Buyer app or Bid Now, Buy Now. We are giving our customers a truly personalised buying experience that supports their business needs.”
Fleet & lease values averaged £12,181 at BCA in November 2019, the highest average value on record for fleet stock. In fact, the three highest average monthly values on record have been recorded in the last three months. Year-on-year values were up by £499 (4.3%) despite both average age and mileage rising. The retained value against original MRP (Manufacturers Retail Price) averaged 42.7%, down by 2.1 percentage points, year-on-year.
Year-on-year table: Fleet & lease
Dealer part-exchange values rose marginally during November 2019, increasing by just £9 over the month to reach £5,189. Average values for part-exchange vehicles were down by £100 (1.9%) compared to the same month last year with stock showing a similar profile of age and mileage.
Year-on-year table: Dealer Part-Exchange
Values for nearly-new vehicles at BCA improved to £25,787 in November 2019, the second highest value recorded in 2019. Year-on-year values were up by £1,617 (6.7%). Model mix has a significant effect in this sector, with brand specific winners and losers.
Year-on-year table: Nearly-New