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Fleet and lease sales help boost used car market, BCA reports

Date: 20 March 2019   |   Author: Sean Keywood

Average used car prices rose during February, helped by a strong performance from the fleet and lease sector, according to auction firm BCA.

The overall average price of £9,798 - the fourth-highest on record - was an increase of £322, or 3.3%, compared with January, and of £300 (3.1%) year-on-year. 

The average fleet and lease value was £11,522 - up £69 month-on-month and £730 (6.7%) year-on-year - with average age rising and mileage falling compared with February 2018.

Dealer part-exchange values were up £51 month-on-month and £343 year-on-year, with average age and mileage both down, and nearly-new values were up £99 month-on-month and £3,333 year-on-year.

BCA COO for UK remarketing Stuart Pearson said: "Since the turn of the year we have seen good demand from buyers for vehicles that are accurately priced and with good provenance. 

"The focus has definitely been on quality, value and the ability to turn stock quickly.

"BCA has seen a long-term evolution in average used car values across the board, which reflects both the wide choice and excellent quality of stock we offer on behalf of our vendors and the consistent demand from professional buyers to meet their retail needs."