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BCA’s Pulse report shows that average used car values rose marginally in February, increasing by under half a percent compared to January’s figure to £5,959. Average values rose in the fleet/lease and nearly-new sub-sectors, with values falling by just £10 in the part-exchange market.
The o verall average value for cars sold in February was £5,959   – a month-on-month increase of £20 (0.3%) compared to January’s figure of £5,939.   CAP performance improved by one and half points to 98.87% in February.
Values remain ahead year-on-year by £388 (a 6.9% increase), although this disparity is reducing sharply as values are now being compared to the recovering marketplace of 12 months ago.    To put that into context, year-on-year figures were ahead by over 15% in January and 29% in December.
  Average values rose in two of the three main product sectors: Fleet & Lease values rose by £105 (1.4%) to £7,364 and N early-New values improved by £1,085 to £18,922 – a 6.0% rise to the second highest point on record. Part-Exchange values were virtually unchanged, falling by just £11 to £2,658 with budget models feeling the pressure.
 Model-mix prevented the average monthly increase being much higher as volumes in the cheaper part-exchange sector rose by 16% (following a significant 45% increase last month).   Fleet & Lease and Nearly-New volumes were broadly in line with last month.
BCA Communications Director Tony Gannon commented “Supply and demand remains well balanced in the used market, and February has been a much more typical month following the weather-affected start to the year.    Fleets are the winners this month as values continue to show consistent growth, thanks to limited supplies and strong demand.   It was a little surprising to see budget values stutter, but with supplies increasing substantially for the second month running, demand did well to keep up.”

Fleet & Lease Sector – February  
Average Fleet & Lease values rose for the second month running, with £105 (1.4%) added to the average value in February.   Values increased from £7,259 to £7,364, while performance against CAP Clean improved for the third month running, rising by two points to 98.6%.  
Year-on-year values remain ahead by £1,078, compared to the £1,500+ increase recorded last month – BCA expect this figure to fall sharply in the months ahead.   
Fleet & Lease – by sector
  Looking at fleet and lease product by sector, the rise in value was across the board.   Budget fleet values recorded a nominal £5 rise, improving to £3,535.    Volume fleet product rose by £35 to £5,515 (0.6%) with premium fleet stock improving by £397 to £10,536 and recording the biggest percentage rise with a 3.7% increase.
Part Exchange Sector – February
Average Part-Exchange values fell by just £11 in February, to £2,658.   P/X sold volumes at auction increased from January (up 16.2%), which shows that demand broadly kept pace with the additional supply.   Performance against CAP also improved but by just half a point to 96.13%, after leaping by nearly five points in January
Looking at P/X product in detail, premium P/X cars rose by £83 to £4,662 (up 1.8%), volume P/X values improved from £1,849 to £1,872 (up 1.2%), while budget P/X values fell by £118 to £1,355 (down a significant 8.7%). 
Nearly-New Sector - February
Nearly-New values at BCA in February improved by £1,085 to £18,922 – a 6.0% rise to the second highest point on record.   With lower numbers than the fleet and part-exch

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Fleet and nearly-new only values that improved in static February market was originally published by Honestjohn News Feed. Read the full story by clicking here.