The average ex fleet car reached a value of £7,273 in July, a £103 fall compared to the average value in June according to vehicle remarketer Manheim.
The company attributed the slight drop to the average age of cars increasing from 50 months to 52 months, and mileage increasing from 58,763 to 60,011.
Go deeper with GlobalData
MPVs and Supermini’s were the only vehicle categories to not decrease in value over the period, and were also two of only three categories where average mileage dropped, which Manheim said highlighted the correlation between price and mileage for the month.
In contrast, year-on-year values increased by £282 (4%) from the £6,991 average value recorded in July 2013.
Daren Wiseman, valuation services manager at Manheim Auctions, said "The figures we are seeing for July are representative of a stable period, with the age and mileage of the car reflected in the values that they are fetching at the auction houses."
He added: "Looking to the coming months, we expect to see higher volumes of de-fleeted vehicles post plate change plus more buyers looking to find a vehicle during this buoyant period. With figures showing continued economic recovery post-recession, alongside consumer confidence gains, we could expect to see another record plate change to rival the spring results come September."
Scotland
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe remarketing company also revealed it had broken its own record for number of cars sold in Scotland, following its acquisition of a second site in Shotts, Lanarkshire, to complement its existing Glasgow premises, in March.
As a result, Manheim sold over 600 vehicles in its first events on 12th August. It also registered a 60% increase in physical buyers and a 70% increase in registered online bidders, including high attendance from Northern Ireland and Wales.
Following the launch of the second auction house, Manheim Auctions centres in Glasgow and Shotts, donated a combined £2,000 to local charity Yorkhill, the Royal Hospital for Sick Children in Glasgow.
Ian Irvine, regional director at Manheim Scotland said "We’re delighted to have raised so much money for a worthy cause as part of our revamped auction offer in Scotland. Yorkhill is an exceptional organisation which does incredible work and we remain committed to supporting charities and communities close to the Manheim centres."
