Fleet News

Auction analysis shows 3% increase in values

Manheim has launched its Auctions Car Market Analysis, which reports on wholesale market trends during the previous 27 months, with particular focus on the first quarter of 2008.

According to the data, the average age of vehicles sold during the first quarter of this year remained at 38 months, although average mileage rose by 1,322 miles to 48,039 miles.

Encouragingly, despite increases in mileages and the volume of vehicles available, values rose by almost 3%.

“Fears over a changing economic outlook (are) so far having seemingly little effect on the growth in wholesale values during the first period of 2008,” said John Given, group sales director, Manheim.

The analysis found that the volume of vehicles sold increased in the first quarter of 2008 to a level similar to the same period in 2007, although this was 7% lower than quarter one in 2006.

Overall, average sales values rose by £189 or 2.9% to £6,723, while the proportion of the original new price retained fell by 0.4% to 42.1%.

This was 0.6% lower than the original new price retained by vehicles sold during quarter one in 2007, but it is 3.9% higher than the proportion of the original new price retained during the same period in 2006.

More significantly, values remain higher than in the first quarters of 2006 and 2007.

Worryingly for many, stocking days rose by four days to 18 days.

Within expectations, diesels still attract the highest premiums in the large family and executive sectors.
 

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