Used fleet and lease car values at the BCA increased by 1.3 per cent during September, reaching above £10,000 for the first time on record. Values in the fleet and lease sector in particular climbed by £127 during the month, reaching £10,017. Retained value against original MRP (manufacturer's retail price) also rose, reaching 42.65 per cent in September, an increase on the 41.7 per cent seen in August. Year-on-year values rose by £317, an increase of 3.2 per cent, with age falling by around a month and the overall mileage decreasing by approximately 3,000. The latest Pulse report from the company found that the average headline value for a used car increase to £8,376, which was the third month in a row that a new record was established. Year-on-year, the headline figure increased by £674, which was the equivalent of an 8.7 per cent increase in average values. The average dealer part-exchange values was another figure to grow, increasing by the equivalent of 8.7 per cent year-on-year. Simon Henstock, chief operating officer UK remarketing at the BCA, said: 'September saw demand keeping pace with supply, with both the auction halls and online channels being very busy. "Sale conversion rates were high, typically exceeding 80% during September, meaning there was good churn in the marketplace. 'However, by mid-October our dealer customers were anecdotally saying that retail demand was softening and that will inevitably impact the wholesale sector. "Professional buyers will inevitably become more choosy, cherry-picking the best presented and most attractive cars. "It is critical to appraise and value vehicles appropriately and in line with condition, and invest in the appropriate level of preparation to attract the buyers' attention where necessary.î
