Remarketing group Manheim has reported the first month-on-month rise in the average selling price for part exchange vehicles, coupled with a yearly high in ex-fleet prices, in June.
Part exchange values had fallen month-on-month in both April and May since March’s recent high of £3,023.
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The average selling price for a part exchange vehicle was £2,768, up by 1.35% on May’s figure and 16.59% above the average for June 2012 despite a 0.55% rise in average mileage.
The mean age of part exchange vehicles dropped by a month, compared to May, while average mileage dropped 2.14% to 75,753.
By segment, the mean value of MPVs was up £312 as average age dropped by a month and average mileage dropped 5,748 miles. The average value of 4x4s was up £292 as average age dropped by four months and miles on the clock by 2,541. Conversely, values of executive models dropped by an average £166 with an average 803 miles more on the clock compared to May.
Corporate compact
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By GlobalDataThe mean value of ex-fleet vehicles rose 9.99% year-on-year and 7.75% compared to May to a yearly high of £7,368.
Manheim attributed the rise in part to the month-on-month drop in average age by four months and in average mileage by 1,637 miles. Average age and mileage in ex-fleet are both at yearly lows of 48 months and 57,638 respectively.
Nearly every vehicle segment saw a rise in the average selling price with executive and compact executive models performing best, up by an average £1,197 and £1,066 respectively.
The average age of executive models fell by four months and average mileage by 3,958 miles, with the average drop for compact executive models at five months and 3,599 miles.
Continuing the inversion of part exchange results, the only segment to record a drop in average selling price was 4x4s, down £890 in June.
Further data and analysis of the UK fleet market will be published in the July issue of Motor Finance magazine.
richard.brown@timetric.com
