Part exchange values rose £55 (1.7%) year-on-year to £3,285 in March at vehicle remarketer Manheim.
This came despite the average vehicle mileage increasing by 1,157 miles to 75,592 miles and the average age rising two months to 100 months.
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Month-on-month, part-exchange vehicle values grew £69 in March.
The company noted that vehicle prices have been on a positive trajectory in the market since August 2013, and in this period values have increased by £656.
The compact executive segment saw the greatest increase in value, growing 9.7% month-on-month to £4,712. Overall eight out of 10 segment’s increased in average selling price.
Manheim valuation services manager Daren Wiseman noted that, thanks to increasing new car registrations Manheim are seeing an increase in the number of vehicles coming to auction, but said this was yet to impact prices.
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By GlobalDataHowever he warned "as a slight note of caution, as we move further into the year, if vehicle registrations continue to increase, we could see a switch from a sellers’ market to a buyers’ market."
