BCA’s communications Director Tony Gannon said: "While May posted significantly improved figures compared to April, the market is now moving into a period over the summer months where we expect values to remain relatively flat.
“Families are now thinking about paying for their summer holidays, and while the Diamond Jubilee is now behind us, we still have the distractions of the London Olympics and the European Football Championships to come. History tells us these types of events have short-term effects on the retail sector and therefore impact on demand in the wholesale car market.”
Fleet & lease cars averaged £7,934 in May, up 3.8% month on month and the highest average monthly value recorded since Pulse began reporting in 2005. CAP performance was marginally down at 95.73% with the average age and mileage barely changing over the month. Performance against original MRP (manufacturers retail price) was level month-on-month at 39.6%.
Year-on-year, the fleet & lease sector saw a 7.9% value uplift, with CAP comparisons improving by 1.5 points.
Average values in the part-exchange sector improved by £35 to £2,847, equivalent to a rise of 1.2%. Values compared to CAP Clean improved by 1.2 points to 90.4%, while average age remained static and average mileage increased slightly. Year-on-year, values were ahead by 3.6%, despite both age and mileage increasing over the period.
Average values in the nearly-new sector rose sharply to £20,470 – the result of changing model-mix as BCA staged a number of special sales during the month. Average performance against CAP Clean improved by nearly two points to 102.1%.