The average price of a used fleet and business vehicle was up by 5.6% on 2005 figures, says the latest BCA Pulse Report.Values for cars sold at auction increased significantly in 2006.
The average price of a business or leased car sold by auction experts BCA in 2006 was L6,525.
That represents an uplift of 5.6% on 2005 values.
The reason for the rise was due to a combination of factors, says the report. “Ex-business and lease cars are generally one-owner. They represent popular makes and models, are well-specified and maintained and come with a full service history,” said, Tony Gannon, communications director, BCA.
“At three years old, they will often be the current production model. Yet averaging around L6,500 in the wholesale market makes them incredibly affordable for professional buyers to take away and retail to secondhand buyers.
“Furthermore, supply has remained short while demand has remained constant – in those conditions prices will rise,” Gannon continued.
Gannon said the market remained strong into 2007. “Small businesses should consider their selling strategies to take advantage of this continued steady demand.”
How the prices compare year-on-year:
Business car and lease market Q4 2006
- Average age in months 38.59
- Average mileage
61,695- Average sale price
L6,565
Business car and lease market Q5 2005
- Average age in months 36.71
- Average mileage
57,550- Average sale price
L6,254
For further information, visit the BCA website at www.british-car-auctions.co.uk or click on the BCA panel (left).
