Retail prices for ex-fleet cars have shown more resilience in June on a year-on-year basis, as ex-PCP values suffered a fall, according to an analysis by Cazana.
Former fleet cars retained 48% of value on average at the 36-month, 60,000 miles mark, compared to 47% in June 2017. Cazana attributed the resilience to stable volumes on the wholesale markets, possibly due to reluctance to change stock in the face of the upcoming WLTP certification regime.
Average ex-PCP values at the 24-months, 24,000 miles mark, meanwhile, suffered a fall after two years of relative stability. Values dropped 2 percentage points year-on-year, to 60%. Industry opinion had been predicting this on the basis of increased volumes, Cazana said, while not discounting the impact of other factors.
The situation for ex-PCP was more varied at lower mileage, with diesel vehicle values increasing one percentage point to 53%, and petrol values dropping three percentage points to 56%. The difference between the two fuels was smaller compared to the seven-point gap in June 2017.
Across both the ex-PCP and ex-fleet segment, diesel and petrol values improved at the 36-month, 60,000 miles mark, but petrol showed a seven-point drop at the 36,000 miles mark.
“It is clear that the used car market in June has retained stability in the face of climatic and sporting disruption,” said Rupert Point, director of valuations at Cazana.
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“There have been less consumers on the pitches but those that show interest have not only done their research online using retail pricing data but have then been in the market to buy and not browse.”