2013 used car values up by over 10%
31 January 2014
Author: Tristan Young
Used car values in 2013 rose overall and for fleet disposals, according to the leading remarketing firms.
BCA reported a 13.8% increase overall to £7056, and by 11.3% to £8889 in the fleet sector, while Manheim reported a 2.7% rise in fleet disposal values to £6795.
Simon Henstock, BCA UK operations director, said: "Looking ahead, our view is that the overall shortage of used product and the issues of supply versus demand will see a continuation of high conversions and higher selling prices in 2014, meaning we are going to see more of what is best described as a 'sellers' market'."
Henstock added: "However, this does not mean sellers have carte blanche to ignore remarketing best practice.
"Even when demand is high, it is important to evaluate and appraise stock sensibly. The most successful vendors recognise that condition and grade have a critical role to play in valuing vehicles, rather than just using the price guides in isolation."
Derren Martin, senior editor of Cap's Black Book Live, said: "We reported at the end of November that there were signs of dealer stocking activity, ready for the New Year, and we are now seeing the fruits of that.
"This is because the availability of good condition stock is becoming an issue, which means prices are being pushed up for the most desirable examples."
Meanwhile, average values for LCVs increased by £202 (3.9%) in December, as buyers competed strongly for stock in the shortened trading period, according to BCA's Pulse report.
December's average value was the highest since Pulse began reporting in 2005. Average values for all vans rose to £5311, with record values achieved in the dealer part-exchange sector and for nearly-new vans.