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Used fleet values dip in February

Date: 14 March 2011

Average used car values increased by £11 month-on-month in February to £5985 due to a richer model mix in the nearly-new sector, according to BCA.

Year-on-year February values were up by just £26 overall.

Fleet values came under pressure last month and dropped by £186 (2.4%) to £7553 with CAP performance down by just under a point to 97.7%.

BCA said model mix played a part in the fall in fleet values with a lower percentage of high value prestige cars coming to auction compared to January.

However, year-on-year values in the fleet sector were ahead by £189 (2.5%).

BCA's Tony Gannon said: We would expect to see defleet volumes ramp up in late March and this will possibly result in some more price pressure in the fleet/lease used car sector."

Part-exchange values fell by £39 to £2798 in February compared to the previous month but nearly-new values leapt 12.5% to £19,827.

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