Motor Finance highlights some of the key figures from the BCA, Manheim and the ONS.
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Analysis
Average used car values at BCA rose to record levels in September 2018, as buyer demand continued apace and the company reported a strong trading month both in-lane and online. Bidding activity on used cars has been strong at BCA throughout 2018 and that continued into September, pushing average values for fleet & contract hire and dealer part-exchange vehicles to record levels. Average month-on-month used car values at BCA rose by £184 (1.9%) across the board during September 2018, reaching £9,881, the highest point recorded since Pulse began publishing. Year-on-year values rose by £764, an 8.3% rise over the 12-month period. All sectors saw values increase in September, with fleet/lease product rising by 5.7% compared to the previous month and by 10.1% over the year. Both dealer part-exchange and nearly-new values saw more modest rises that continued the pattern of value growth that has been apparent for much of 2018 – average P/X values have now risen for eight months in a row. Average fleet & lease values rose sharply at BCA in September, climbing by £648 (5.7%) compared to the previous month, to reach a new benchmark for the fifth time in 2018.
Car Product Sold Unit Market Performance – August 2018
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