Demand for used two to three-year-old models continues to go from strength to strength, while other sectors suffer dwindling residual values, according to Manheim Auctions.
This should convince those fleet managers who are a little sceptical about MPVs that they should be adding them to their company car choice list, Manheim chief auctioneer Andrew Shepherd claimed.
He said: 'I am putting hundreds of MPVs under the hammer each week, and whatever their size or mileage they continue to generate increased interest from buyers. From the smaller 1.4-litre Megane up to the range topping V6 Ford Galaxy, all models are receiving strong bids with some going for 20%-30% of CAP clean.'
The company car market has helped fuel the growth of this new sector, despite some doubts among fleet managers in the beginning that higher running costs would outweigh the space and flexibility of the MPV. One of the main reasons for this upsurge in demand and residuals, Shepherd claims, is that the retail buyer is putting a range of MPVs on his three year old used car shopping list, ahead of the traditional B and C class cars.
He said: 'Being able to buy a V or W-registered MPV that combines both seats and loadspace for around £7,000 is very attractive for the retail buyer. Combine that with a diesel engine that returns 50mpg and they have got a practical car with low running costs.'
Current auction favourites include anything with a turbo diesel engine or a 2.0 litre petrol engine, while V6 models, which drivers have traditionally avoided because of higher running costs, are finding buyers as long as they are sensibly priced.
Shepherd said the Ford Galaxy, Volkswagen Sharan and SEAT Alhambra continue to be the favourite models with buyers, while the smaller diesel models such as the Renault Megane Scenic and Vauxhall Zafira are performing well.
Even the Fiat Multipla, whose odd looks aren't everybody's cup of tea, is selling first time at good prices.
|People carrier auction prices|
|Model||Plate/year||Mileage||Price||% of CAP|
|Galaxy 1.9TD LX||T/1999||81,246||£7,325||116.7%|
|Galaxy 2.0 Aspen||P/1996||56,875||£6,200||126.5%|
|Zafira 1.6 Club||T/1999||107,765||£5,400||121.3%|
|Zafira 2.0 Comfort||V/1999||66,726||£7700||120.3%|
|Espace 2.0 RN||M/1995||95,356||£4150||120.2%||Source: Manheim Auctions|