Use car values show small
drop, but fleet figures up for first time in months.
Average wholesale used car values
have remained relatively stable, falling just 0.7% (£47) to £6,736
in September compared to the previous month, following a sharp drop
of 3.3% in August.
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Monthly figures for fleet, however,
are up for the first time in six months. The average wholesale used
car value in the fleet sector increased by 2.9% (£169) to
£5,960.
Meanwhile, dealer part exchange
prices rose slightly by 1.8% (£40) to £2,219, the second increase
in as many months. The average age of fleet vehicles is six months
higher than in January at 49 months, but has remained relatively
steady since then.
Mileage is up 7,088 miles over the
same period, having risen steadily over the year.
When compared with September 2009,
the sharpest decline has been in the manufacturer sector, with
wholesale used car values down by 10.5% (£1,421) to £12,057.
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By GlobalDataThe fleet sector is down 9.3%
(£615) to £5,960 with dealer part exchanges down by 8.2% (£198) to
£2,219.
Examples of increases in values for
fleet include small hatchback up 4.6% (£183) to £4,180; large
family vehicles up 4.4% (£203) to £4,786; and MPVs up 11.9% (£700)
to £6,593.
Dealer part exchange prices
increased in September with small hatchbacks up by 4.8% (£86) to
£1,868; MPVs up by 13.4% (£326); and 4x4s up by 9.6% (£449) to
£5,121.
Meanwhile, manufacturer stock
values were down 4.7% (£590) to £12,057 following a fall of 5%
(£665) in August.
Manheim Remarketing managing
director Mike Pilkington said: “September has been a relatively
strong month in terms of both price performance and conversion
rates.
“The increase in fleet values
suggests the return of the traditional autumn seasonal uplift and
improved buyer confidence while the increase in dealer part
exchanges confirms the strength of demand in the budget motoring
sector.”
Pilkington added: “In the short
term we do not expect to see any unreasonable pressure on values or
conversion rates .
“With no enormous influx of vehicles anticipated during the next
few weeks the immediate future looks set to remain
stable.”
