The average sale price of an ex-fleet car is now £444 ahead of August 2006, reinforcing how values have increased over the past 12 months, with the percentage of cost new retained also ahead year-on-year by 2% at 35%.
Average used prices increased in August from £5,613 in July to £5,689, a rise of £76 despite average mileages being up by 1,000 to 53,800 and a two-month increase in average age to 44 months.
Looking at fuel variants, the largest price increase was in the diesel sector which rose by £239 from £6,526 in July to £6,765 in August with little change in age and mileage at 40 months and 64,000 miles respectively.
Meanwhile petrol variant prices fell by £84 to £4,685, but this will have been influenced by a two-month increase in average age to 47 months and average mileages rising by 2,357 miles to 44,242 miles.
The report continues to highlight the consistent gap in fleet replacement cycles with petrol models being replaced at around four years and at the 45,000 mile mark, while diesels are being defleeted at just over three years and around 65,000 miles.
When looking at individual vehicle segments, the diesel compact executive (39 months/66,065 miles) and executive (39 months/70,267 miles) models fare best at disposal time, returning 43% and 42% of original cost new respectively.
At the other end of the scale, petrol executive models (69 months/76,731 miles) and large family cars (54 months/68,991 miles) only made 22% and 24% of their original cost new prices.
“With many vehicles not being replaced until well beyond September this is likely to create a shortage of stock which we believe should continue to keep prices stable,” said Rob Barr, Manheim’s group communications director.
“The split now between petrol and diesel models is really close at 52% and 48% of the total ex-fleet volume.
Despite this continued growth in the mix of diesels, prices are holding up well - contrary to some other recent reports.
The key reference point is that, in overall terms, diesels are averaging 38% of cost new and petrols 33%.”