Observations Tim Naylor, British Car Auctions
Across the board used cars averaged £6,421 in November, a £60 (0.9%) decrease compared to October. Despite this fall, November recorded the third-highest monthly value on record and the year-on-year figures show a £220 rise (3.5%) over 2011, with cars being on average older and higher mileage.
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It was not unexpected to see values falling from the record levels achieved in October.
The marketplace is entering a slower phase in the run-up to the year-end and demand faltered a little in November – a seasonal
element to the annual buying cycle.
Overall, prices remain strong when taking the longer view and average values during 2012 have probably exceeded the expectations
of most market watchers. While much of this is down to the supply issues affecting the wider market, overall performance has been very good considering the relatively weak economy and low business confidence.
Fleet and lease cars averaged £8,123 in November, falling by £253 (3%) compared to October’s record, but still significantly ahead of the values seen earlier in the year.
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By GlobalDataCAP performance fell by two points to 94.4% compared to October, while performance against original manufacturer’s retail price fell by a point to 40.48% across the fleet and lease sector. In the one to three-year-old sector, there was a mix of results across the
body shapes, with values rising for large saloons, hatchbacks, 4x4s, and perhaps surprisingly, convertibles.
