Auction values rise for second consecutive month
17 October 2011
Fleet RVs improved for the second successive month during September according to BCA's latest Pulse report, which previously recorded ex business car values falling from February onwards.
Last month BCA registered a £335 increase to an average value of £7557 for fleet models, although year on year levels are down £54, or 1.9%.
The BCA survey found that the average value of a used car in Britain passed the £6000 mark for the first time, reaching £6252, an increase of £364.
During August and September average overall values climbed by nearly 11% as supply issues and seasonal demand influenced used car prices.
Tony Gannon, BCA's communications director, said auction volumes rose by 5% in September meaning that professional buyers "finally have access to a wider range of stock, following the relative product drought experienced during much of 2011."
Meanwhile Manheim Remarketing reported that average fleet vehicle values rose 3.5% (£209) to £6154; with a range of increases from small hatchbacks registering a 4.5% improvement to a norm of £4503 to a 5.8% increase for 4x4s to £19,663.
Follow BusinessCar on TWITTER