The average value of a vehicle recovery reported by the HPI CrushWatch service has risen to £7,374.10, the second-highest figure recorded in a month since reporting began in May 2010.
The figure was up by 14.59% on that of the previous month, and by 18.42% on the figure for March 2012, and is only the third time the average value of a recovery has surpassed £7,000.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
There were 6,390 enquiries to CrushWatch, run in conjunction with the Finance & Leasing Association Vehicle Recovery Scheme and the ACPO Vehicle Crime Intelligence Service, during March, down from 6,796 in February and 6,599 in January but above the running monthly average of 5,364.
However, of those enquiries, 695 found vehicles impounded with outstanding finance, a ratio of 10.88%, the fourth-highest since records began and more than 1% above the average of 9.80%.
The total value of recoveries in March was £5.13m, again the fourth-highest value recorded for a month, £2.71m of which was recovered by the Metropolitan Police Service and, of which, £123,600 was accounted for by the recovery of a single Ferrari 458 Italia.
A full interview with Darren Greenyer and Barry Shorto of HPI, plus further data from the CrushWatch scheme, will be published in the April issue of Motor Finance magazine.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDatarichard.brown@timetric.com
