Average used car values in the fleet and lease sector rose by 2.3% to a record value of  £10,778 in September, according to BCA.

It is the second consecutive month that a record value had been achieved at BCA for fleet and lease stock. 

Retained value against original MRP (Manufacturers Retail Price) improved to 43.32% from 42.70% in August, whilst year-on-year values were up by a significant £761 (7.5%), as both average age and mileage continued to reduce. 

Average used car values rose by £33 (0.3%) across the board at BCA during September, as the company reported another strong trading month. 

The headline average value of a used car rose to £9,117 during September, the highest average monthly figure on record at BCA. 

Volumes also climbed during the month, with inventory levels reaching record levels by late September and early October.

Year-on-year, the headline figure was up by £741 - almost exactly the same value differential as seen last month. 

This is equivalent to an 8.1% increase in average values – a result reflecting both the steady demand, well-balanced supply and the richer mix of stock available at BCA over the past 12 months. 

The average age and mileage profile of vehicles sold at BCA continues to fall and this is also impacting positively on average price performance. 

Record average monthly values were achieved for fleet and lease and dealer part-exchange cars, while nearly-new values reached their highest point this year.

BCA UK remarketing managing director Stuart Pearson said: “September brought a lot of footfall into our 24 auction centres around the UK and increasing volumes of online buying activity via BCA Live Online. 

“Volume built steadily during the month and buyer demand often outstripped supply as conversion rates rose to 90%-plus.  Demand was across the board, but notably interest was exceptionally high for vehicles in ready to retail condition.  

“The higher value luxury, prestige and sportscar end of the market has also performed very well, with sales at BCA Nottingham and Blackbushe attracting big crowds and selling some notable vehicles.

“We expect this buoyant used car market to continue into October as the major volume buyers continue to be very active. 

“BCA continues to win and retain business and we are delighted that Steven Eagell Group and Swansway Group have announced remarketing deals with BCA in recent weeks.”

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