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Used values are rising and PX values are hitting records
publication date: Feb 11, 2011
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author/source: Robin Roberts
BCA's latest Pulse report shows that average values
rose in January following the disruption caused by the Arctic conditions and
shorter trading period in December.
| Both the fleet & lease and
part-exchange sectors recorded notable value improvements, with PX values
reaching a record level.
Fleet values increased sharply by
£504 (6.9%) to £7,739, to reach the highest monthly average value since April
2010 and completely reversing the steep average value losses experienced in
October and November of last year.
Year-on-year values are ahead by £480,
equivalent to a 6.6% rise, with fleet cars averaging 98.65% of CAP Clean in
January, a rise of two points over the December figure. | According
to the latest AA Fuel Price Index, petrol prices rose in January by the
biggest amount in recent times.
Although there is considerable Government
lobbying to slow down fuel price rises, there appears to be no immediate
respite for private motorists.
With
this continued pressure on family finances, leading vehicle auction company,
British Car Auctions (BCA) is seeing a significant increase in buyers seeking
the most fuel efficient vehicles which, in turn, is pushing up prices at
auction.
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There was also significant value
growth in the part-exchange sector, which climbed for the third month running
even as sold volumes increased by some 83% over the month. Values rose by
£132 (4.8%) to £2,837 in January to reach the highest value on record for P/X
cars, improving on the previous high point of £2,762 recorded in September
2009. Performance against CAP improved by two points to 95.5%.
The nearly-new sector saw values
fall sharply, however, as over £4,000 came off the average value as sold
volumes almost doubled between December and January. Average values
fell from £21,691 to £17,619, with CAP performance returning to 102% having
risen to nearly 107% in December.
The fall in nearly-new values,
combined with the much changed model mix over the month had the net effect of
slowing the growth in the overall average value. Despite increases of
nearly 7% and 5% for fleet and PX vehicles, the average used car value at BCA
in January rose by just £69 (1.1%) to £5,974. Sold volumes increased
significantly in January compared to December, rising by 72% over the month and
by over 10%, year-on-year. |
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