Average fleet and lease values fell by £234 to £7,616 in October from £7,850 in September, according to BCA’s latest Pulse report.

The 3% fall was the first recorded since December 2008 and performance against CAP Clean fell for the third consecutive month, from just under 100% to 95.44%.

It is the biggest fall since May, following the Guide adjustment, and is at its lowest point since last December.

However, year-on-year values are well-ahead by £1,749, equivalent to a 30.5% uplift over the 12 month period.

The overall average value for cars sold in October was £6,021 – a fall of nearly £200 compared to September – but still the fourth highest monthly figure recorded in over two years.

“There has been a change in market dynamics over the past six or seven weeks,” explained BCA’s sales director Mark Hankey.

“Volumes have increased and the net effect is that we have moved from an above CAP Clean market to a below CAP Clean position in a few short weeks.”