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Values of defleeted cars rise in February

Date: 20 March 2020   |   Author: Illya Verpraet

Values of used cars rose in February - both compared to January 2020 and February 2019 - according to auction company BCA.

The average value of used cars sold through BCA's auctions in February was £10,002, a £204 increase year-on-year, and £162 more than in January.

All segments - defleeted cars, dealer part exchanges and nearly new cars - experienced a rise, with strong demand from professional buyers.

Stuart Pearson, COO for BCA's UK remarketing, commented: "As in previous years, BCA saw sustained demand in the run-up to the March plate change. This continued into early March with competitive bidding from professional buyers driving demand, with excellent conversion rates and typically strong price performance. 

"Online trading at BCA continues to play a significant role, with online sold volumes rising above 38% during the past month and that percentage continuing to rise into March."

Fleet and lease average values were significantly stronger than last year - at £12,290 compared to £11,522 - but showed a slight drop, of £41, compared to January this year. The residual value averaged 43.7%, down by 0.3 percentage points, year-on-year.

That's despite a rise in average mileage by almost 1,000 miles - from 38,791 to 39,769 miles. 

Dealer part exchange values and nearly new values both rose compared to February 2019 and January 2020.