Vehicle remarketer Manheim has reported an
increase in ex-fleet superminis and small hatchbacks at auction at
the cost of large family and compact executive cars.
Meanwhile, the average age of cars coming to
dealers in part-exchange deals has risen by four months since last
year while the average value has dropped, according to the
auctioneer.
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The number of small hatchbacks or superminis
coming to auction from the fleet sector increased
5% last month compared to January 2011, 22% of the total number of
vehicles. Large family and compact executive cars dropped 5% and
now account for 29% of the total, the same amount as medium family
vehicles.
Not only are superminis and small hatchbacks
in greater supply, they are fetching a higher price. The average
supermini increased in value by 14.7% to £4,269 as their age fell
10 months to 38 months while small hatchbacks, which still average
46 months in age, increased in value by 8.2% to £4,685.
The average auction selling price for cars
from the fleet sector was £6,157 in January 2012, the highest since
May 2011.
The average age of vehicles coming to
dealers in part-exchange is now 99 months, compared to 95
months in January 2011. Mini MPVs were on average eight months
older, compact executives and coupes were seven months older,
superminis six months older and small hatchbacks five months
older.
Between January 2011 and January 2012, mini
MPVs dropped 17% to £1,919, compact executives dropped 14.4% to
£3,242, coupes dropped 9.3% to £3,768, superminis dropped 6.5% to
£1,520 and small hatchbacks dropped 5.7% to £1,883.
The average value of a car offered in part
exchange has fallen 4.5% in the past year, or by £113, to £2,378,
but remains at its highest since April 2011.
richard.brown@vrlfinancialnews.com
