Manheim Remarketing reports
that overall average wholesale used car values increased by 2%
(£137) to £6,984 in February, compared to January.
This was caused by the
increase in the fleet sector, as both dealer part exchange prices
and manufacturer stock values fell. The fleet sector experienced an
increase in average values of 4.4% (£270) to £6,394.
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Meanwhile, both dealer part
exchange and manufacturer stock values fell by 0.7% (£17) to
£2,474, and 0.3% (£31) to £11,891 respectively. Compared with
February 2010, average wholesale used car values fell by 3.1%
(£224), with the average age increasing by two months to 52 months,
and mileage up by 5,079 miles to 54,699 miles.
Increases in values for the
fleet sector in February included small hatchbacks up 2.9% (£128)
to £4,458, medium family vehicles up 4% (£222) to £5,749, large
family up 2.2% (£109) to £4,957, compact executives up 4.9% (£413)
to £8,810, and executives up by 6.5% (£674) to £11,042.
Dealer part exchange prices
for large family vehicles rose 4.3% (£80) to £1,929, and for 4x4s
by 2.1% (£117) to £5,652. Increases in manufacturer stock values
included small hatchbacks up 1.8% (£147) to £8,273, executive up
5.1% (£874) to £18,137, and MPVs up 5.7% (£848) to
£15,704.
Notable decreases in average
values in February in the fleet sector included superminis down
6.3% (£235) to £3,487, mini MPVs down 3.1% (£151) to £4,744, and
MPVs down 6% (£423) to £6,605.
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By GlobalDataDealer part exchange small
hatchbacks fell 1.9% (£38) to £1,959, medium family fell by 3.1%
(£73) to £2,278, compact executives fell by 3.5% (£133) to £3,653,
and mini MPVs fell by 4.9% (£114) to £2,199. Manufacturer medium
family vehicles fell by 5.4% (£590) to £10,328 and compact
executives fell by 4.9% (£703) to £13,762.
Manheim Remarketing managing director Mike Pilkington
said: “The average age and mileage of fleet vehicles has reached
the highest ever level reported in market analysis with the trend
likely to continue.”
