Fleet News

Used car values increase

Manheim Remarketing’s latest Market Analysis for Cars reports that overall average wholesale used car values increased in November, the first time Manheim has reported an increase in November in the past three years. The increase of 0.6% (£39) to £6,852 followed a rise of 1.1% (£77) in October. Average Fleet values increased for the second month in a row by 1.7% (£100) to £6,136 with Dealer part exchange prices rising by 2.0% (£44) to £2,275. Meanwhile Manufacturer stock fell by 0.8% (£98) to £12,090. When compared with November 2009 average values are 4.4% (£317) lower, average age is three months older at 51 months and mileage is up 4,102 to 53,503 miles.

Examples of increases in values for Fleet include Medium Family vehicles up 2.4% (£126) to £5,424, Large Family up 4.7% (£219) to £4,853, Executives up 1.2% (£119) to £9,742, MPVs up 6,9% (£437) to £6,724 and 4x4s up 3.1% (£380) to £12,807. Dealer part exchange prices for Small Hatchbacks increased by 2.4% (£44) to £1,854, Compact Executives were up 6.2% (£202) to £3,461 and Executives up 4.1% (£141) to £3,545. Meanwhile Manufacturer stock values for Superminis rose by 2.9% (£138) to £4,841.

Reductions in average values in the Fleet sector include Superminis down by 3.2% (£112) to £3,423, Small Hatchbacks down 1.7% (£72) to £4,070 and Mini MPVs down 1.8% (£89) to £4,741. Dealer part exchange Superminis fell by 1.6% (£22) to £1,388, Medium Family by 1.1% (£23) to £2,058 and Large Family by 3.5% (£62) to £1,729. In the Manufacturer sector notable reductions in value include Small Hatchbacks down 7.1% (£614) to £8,067, Large Family down 5.6% (£713) to £11,911, Executives down 6.8% (£1,227) to £16,877 and 4x4s down 8.5% (£1,824) to £19,633.

Mike Pilkington, managing director, Manheim Remarketing said: “Although the wholesale market has held up well compared with seasonal expectations in the last couple of months, we are now entering the toughest retail period of the year for used cars.  As demand traditionally tails off, it is vital that vendors set realistic reserves as buyers become more selective with clean, low mileage and well specified vehicles attracting greatest interest. The inclement weather may result in a flurry of activity whenever a 4x4 appears in the auction lane and values may strengthen as a result.”

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee