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Prices rise as CV ages fall
Page 69
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Average values for light CVs increased 14% during the second quarter according to British Car Auctions. Kevin Swallow reports.
. he second quarter of 2007 saw average r prices for light CVs at British Car Auctions (BCA) go through £4,000 for the first time, rising 14% year-on-year.
Average mileage, price and price vs CAP rose, and the average age of vehicles fell, compared to the same three-month period last year.
UK business development manager Duncan Ward says: "Any signs the market may have been softening in the early summer have not been realised. June values for fleet and lease vehicles leapt ahead, reversing a two-month fall to finish at £4,084— the second-highest monthly value we've recorded and contributing to an overall record value for the quarter." Average part-exchange values remained uniformly strong, rising £300 on last year and establishing a record value at £3.424. In May average values exceeded £3,500, the highest monthly figure BCA has recorded.
"And with the manufacturers offering a number of new models to auction buyers for the first time, nearly-new values are also well ahead of last year," says Ward. In fact, average values for nearly-new vehicles are up £600 on the same period last year.
In the nearly-new sector the average age of vehicles has jumped to 7.86 months, down on the 8.05 months seen in the last quarter of 2006 but the year-on-year figure is up 39%. Average mileage is the real eye-opener:it jumped 339% to 14,413km between the last quarter of 2006 and the first quarter of 2007, then dropped 9% to 13,248km during the second quarter of this year. is