Used market declared stable by BCA and VRA
26 June 2012
Author: Jack Carfrae
The Vehicle Remarketing Association (VRA) has reported strong performance from defleeted business cars throughout May and June, with average Cap Clean of around 97%.
The organisation suggested that the used car market was looking stable, with what it described in its May/June update as "a good steady balance of used stock. consistently entered for sale, which has helped fleet vendors. report healthy conversion rates as well as consistent prices".
The report claimed that the disruptive summer, started by the Jubilee and followed by the Euro 2012 football championship and the Olympics, had the capacity to impact demand for used fleet vehicles over the coming months.
The VRA described the used light commercial vehicle market as "buoyant" and reported average prices of 100% Cap Clean. This comes as BCA reports an improvement of 2.3% for used LCV values in May, although the auction house warned that buyer confidence was still fragile and that vehicles needed to be in the best possible condition for sale.
Conversely, rival auction house Manheim said that vans that fail to sell or attract a bid first time should be considered on a case-by-case basis rather than being avoided.
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