Average used car values at BCA returned to normal levels following the record-breaking performance seen in September. Used car values averaged £9,648 at BCA in October, however demand remained unseasonably strong during a period usually impacted by rising stock levels post plate change and the October half-term breaks.
Year-on-year table: All cars
Stuart Pearson BCA COO UK Remarketing commented, “October was another strong month for used car activity at BCA, with robust demand seen across all market segments. At a time when rising inventory from the September plate-change, along with a spread of October half-term holidays can impact the supply and demand balance, the used car sector remained resilient across all of BCA’s channel offerings.”
He added “Demand is currently very good for this time of year and prices are more stable than traditionally seen as we approach the Christmas period. This is giving dealers confidence and in expectation of continuing high levels of used vehicle activity, BCA will be holding a series of special sales across the period between Christmas and the New Year period to support our customers.”
Pearson concluded “BCA continues to see exceptional usage of the BCA Buyer app, designed to make it easier for customers to locate and never miss the vehicles that they’re interested in. Since launching under 12 months ago, over 10,000 unique users now make use of the BCA Buyer app and more than 50% of active buyers have used it. It is an important part of BCA’s journey to give customers a truly personalised digital experience which supports their business needs whether buying physically or digitally.”
Fleet & lease values averaged £12,113 at BCA in October 2019, the second highest average value on record for fleet stock. Year-on-year values were up by £211 (1.8%) despite both average age and mileage rising. The retained value against original MRP (Manufacturers Retail Price) averaged 42.8%, down by 2.5 percentage points, year-on-year.
Year-on-year table: Fleet & lease
Dealer part-exchange values fell back slightly during October 2019, down by just £23 over the month at £5,180. Average values for part-exchange vehicles were down by £155 (2.9%) 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 fell from last month’s all time record high to £25,029, the second highest value recorded in 2019. Year-on-year values were up by £1,341 (5.7%). Model mix has a significant effect in this sector, with brand specific winners and losers.
Year-on-year table: Nearly-New