The average price of dealer part exchange
vehicles fell by 1.6%, month-on-month in May according to the
latest report by Manheim Market Analysis.
The most significant movements by vehicle
segments were recorded in large family cars, down 7.4% (£134 to
£1,673) and MPVs, up 4.7% (£124 to £2,807) from April.
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The automotive services firm also revealed
the average age of the dealer part exchange vehicle stayed at 98
months and the average mileage increased by 1,264 miles to 76,271.
Wholesale values were down 5.1% from the previous month but were up
4.6% year-on-year.
Valuation services general manager at
Manheim Auctions said: “During May we have continued to experience
more pressure on values as the market continued to toughen. We have
noted the increasing trend of cherry picking amongst the trade
buyers as they look for the cleanest, full service history examples
in the best colours with the best specification. These examples
continue to achieve strong prices.
“The reverse of this also applies to poor
condition, weary looking examples without the correct documentation
needing to be valued realistically in order to sell.”
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By GlobalData
