The average value of a de-fleeted car sold at auction by Manheim was up 2.2% (£159) year-on-year in August.
The car remarketer credited the increase in selling price to a fall in age and mileage. The average age of the stock was down four months compared to the same month 2014, to 47 months, while average mileage fell 7% (4,220 miles) over the same period. At just 55,927 miles, August had the lowest recorded mileage for at least 12 months.
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‘Medium family cars’ and small hatchbacks made up the majority of Manheim’s stock for the month, making up 31% and 22% of stock respectively.
Daren Wiseman, valuation services manager at Manheim said: "Younger, lower mileage ex-fleet cars are still finding buyers very easily in the used market. The quality of Manheim’s de-fleeted stock is attracting buyers both in-lane and online, helping our fleet vendors to achieve excellent prices. We may see lower growth in values as volumes increase over the next four to six weeks as expected."
"Low-mileage superminis and small hatchbacks have particularly broad appeal, from owners of larger cars looking to downsize to younger drivers choosing their first car. While de-fleeted MPV values were fairly static compared to July, the year-on-year upward trend was seen again in August, with average selling prices up 15.2% (£1,120), helped by mileage being 12% (8,869 miles) lower than the previous month."
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