The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Fleet of Wheel as Prices Rise

14 April 2016 | Updated 01 January 1970
 

The latest BCA Pulse report shows that both fleet and lease and part-exchange values rose in March with both sectors recording value growth over the year.  

However, it was not all good news in the report as nearly-new values fell, although model mix has a significant role to play in this low volume sector and the headline average value of a used car fell in March as a result of changing volume mix.  

Compared with February 2016, the headline value fell by £91 (1.1%) to £7,838 which reflected a change in the volume mix over the month as dealers sold greater numbers of part-exchange vehicles following on from the new registration plate on 1 March. Year-on-year, however, the headline figure was up by £314, equivalent to a 4.1% rise.  

“BCA reports a strong used car marketplace in March with buyers being exceptionally active both in the auction hall and online,” remarked Simon Henstock, Chief Operating Officer, BCA UK Remarketing. “Reflecting seasonal patterns, we saw greater volumes from dealer part-exchange sources and this shift in the market mix had an impact on the headline value."

He went on to state that the plate change period inevitably saw volumes rise substantially in the wholesale markets and stock levels will traditionally remain high until at least early May. Any uplift in volume had the potential to change the balance in supply and demand and could have an impact on values as buyers simply have more choice.

“As volumes increase, we are advising sellers to pay attention to the basics of remarketing,” said Henstock. “Presentation and preparation are a given and it is vital to properly identify and declare the specification, particularly if there are a lot of base-spec models about. Providing the service history at the point of sale is also important and can have a real, tangible effect on the potential prices vehicles might achieve.”

Picture: The latest BCA Pulse report shows a mixed picture but still with an increase in volumes and prices

Article written by Robin Snow | Published 14 April 2016

Share


Related Tags


Related Articles

Europcar Introduces Safety Programme

Europcar has put special measures in place to provide customers with a safe and flexible travel experience, as explained in a recent video. Their group-wide Safety...

 Read Full Article
Europcar Mobility Group Supports Essential Workers With £5 Car Rental

The group have launched the "Together" programme to support the mobility of workers in emergency service sectors in light of the COVID-19...

 Read Full Article
The Future Of The Company Car 

Fleet management expert Peter Crabtree, of Europcar Mobility Group, explores the latest issues around business travel, company cars and sustainable employee...

 Read Full Article
Europcar Mobility Group Assists In Sheffield Flood Recovery 

Europcar has provided a long wheel-base van to help with continued work following the 2019 floods. The Europcar Vans Sheffield Supersite has come to the rescue of...

 Read Full Article
On The Road to Heaven...Or Hell - Best Services Revealed

Norton Canes (Roadchef) services on the M6 toll has been rated England’s best motorway services in a user survey by the independent transport user watchdog. For...

 Read Full Article
ULEZ Vous? GreenZone Gets EVs Going Well In Time...Will You?

Commercial cleaning company GreenZone Cleaning & Support Services, has invested in four EV charging pods outside their head office in West London - which will help...

 Read Full Article
Making EV Accessible - BP Agrees Chargemaster Charge

June 28 saw BP enter into an agreement to purchase Chargemaster, the UK’s largest electric vehicle charging company. Chargemaster operates the UK’s largest...

 Read Full Article
Plugging In To The Charging Market

FM provider ABM?UK has reached an agreement with ChargePoint, the electric vehicle (EV) charging network. ABM now has the rights to distribute, install and maintain...

 Read Full Article
Parking Grinches Set To Steal Christmas

English councils and their evil contractor cohorts made a record £819 million from parking operations in the last financial year. This is 40% higher than the...

 Read Full Article
Legal Air Quality Roadside Standards Ignored

Many European countries do not meet legal air quality standards for ambient nitrogen dioxide (NO2) near roads; a problem that has been forecasted to persist to...

 Read Full Article