Wholesale used car
values pick up in October and buyers are becoming more
selective.
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Overall average wholesale
used car values increased by 1.1% (£77) to £6,813 in October,
following a drop of just 0.7% (£47) in September, with rises in all
three vehicle sectors.
Fleet values increased by
1.7% (£76) to £6,036; dealer part-exchange prices rose by 0.5%
(£12) to £2,231; and manufacturer stock rose by 1.1% (£131) to
£12,188. Average values are 5.2% (£374) lower compared to
January.
Increased values for fleet
include superminis, up 9.2% (£299) to £3,535; compact executives,
up 3% (£237) to £8,154; and 4x4s, up 6.7% (£784) to £12,427. At 47
months, the average age of fleet cars is four months higher than it
was at the beginning of the year, with mileage up by
6,237.
Dealer part-exchange prices
for large family increased by 6.1% (£103) to £1,791; executives
were up by 7.5% (£236) to £3,404; and 4x4s up by 1.5% (£78) to
£5,199. Manufacturer stock values for small hatchbacks were up 6.4%
(£523) to £8,681; large family rose by 3.6% (£442) to £12,624; and
MPVs increased by 2.2% (£279) to £12,890. Reductions in average
values in the fleet sector included small hatchbacks down by 0.9%
(£38) to £4,142; medium family down 0.7% (£39) to £5,298; mini MPVs
down 1.9% (£92) to £4,830; and MPVs down 4.6% (£306) to
£6,287.
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By GlobalDataDealer part-exchange small
hatchbacks fell in value by 3.1% (£58) to £1,810; and compact
executives fell by 4% (£137) to £3,259. Meanwhile, in the
manufacturer sector, compact executives fell by 8.6% (£1,336) to
£14,106.
Manheim Remarketing managing
director Mike Pilkington said: “October has continued in much the
same vein as September. Buyers are more selective, with clean,
low-mileage and well-specified vehicles attracting greater
interest.
“We are now entering one of the toughest retail periods of
the year. As the market eases into the early winter months, it is
vital vendors set realistic reserves to move stock
quickly.”
