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Used fleet and lease values climb year-on-year
Date: 26 March 2013 | Author: Rachel Burgess
Average used car values were marginally down in February but fleet and lease figures climbed to a record level, according to auction house BCA.
The overall average vehicle price declined by 1.1% to £7056, down £81 from January, although year-on-year values were up by 13%.
But fleet and lease cars averaged £8851 in February, rising by £325 compared with January and establishing yet another record monthly value.
This trend echoed rival firm Manheim's ex-fleet values for February, which rose to £6821 compared with £6413 in November 2012. Year-on-year fleet values have increased by 8% or £551.
BCA saw a larger rise, year-on-year, with the fleet and lease sector recording a £1137 (14.7%) uplift. Average age and mileage were also up month-on-month, but down year-on-year.
Roger Woodward, managing director of CD Auction Group, explained that supply of mainstream ex-fleet market remains tight, with a shortage remaining of the right type of stock.
He added: "We would expect that to ease towards the end of the month as more part-exchanges and de-fleet vehicles become available. This is a seasonal, short-term effect."
Meanwhile, average van values increased across the board at BCA, led by notable increases in the fleet and lease sector.
The average February figure of £4789 was the highest on record for any month since BCA's reporting began in 2005.
Following a rises in January?(1%) and December (5.2%), values improved again last month, up by £386 (7.1%) to £5823 - the third consecutive month where a record average value has been achieved for corporate CV stock.
