Fleet News

Static end to the year as auction prices drop

The used car market remained static in the final quarter of 2007.

Data from auction giant Manheim showed that the average car sold during the fourth quarter was 38 months old and had an average mileage of 46,717, just 77 miles more than in the previous three months.

It is the third quarter in a row where average age has remained static.

As is usual during the winter, the number of vehicles sold fell, and to a level lower than that seen in 2005 and 2006.

Average values fell by £228 to £6,534, while the proportion of the original new price fell by 1.7% to 41.7%.

The fleet and lease sector was responsible for the fall in the number of sales, while the drop in average values is attributed to a change in the mix of vehicles sold by the manufacturer sector.

The average age of fleet vehicles dropped by a month to 41, while average mileage fell for the seventh quarter in a row to 54,127.

The average new price changed little at £15,653 (up £32) while the average selling price dropped £90 to £5,552. But the percentage of the original price attained fell by just 0.6% to 35.5%.

Values of vehicles from manufacturers dropped slightly as the average age rose by one month to 15 months and mileage by 1,404 miles to 15,796.

The original new price went up £724 to £19,992 while the average selling price dropped £559 to £12,341. The percentage of new price retained fell 5.2% to 61.7%.

Looking at the different vehicle segments, average age fell for superminis, family cars, compact executives and MPVs, but rose for small hatchbacks, executive cars and 4x4s.

The selling price of superminis rose by 3%, while all other segments saw values drop, particularly MPVs (down 5%).

Small hatchbacks retain the highest percentage of new prices at 44%, while the worst performing segment is the large family at 35%.

 

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