Manheim Remarketing’s latest Market Analysis for Cars reports that average wholesale used car values in the Fleet sector increased by 2.9% (£169) to £5,960 in September following four consecutive months of falls. Overall average values, impacted by a change in the model mix in the manufacturer sector remained fairly stable with a drop of just 0.7% (£47) to £6,736. Average vehicle age has remained static but mileage has increased by 454 miles to an average 52,785 miles.
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. At 49 months the average age of Fleet cars is six months higher than at the beginning of the year with mileage up by 7,088 over the same period.
Mike Pilkington, managing director, Manheim Remarketing 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. In the short term we do not expect to see any unreasonable pressure on values or conversion rates and with no huge influx of vehicles anticipated during the next few weeks the immediate future looks set to remain stable.’