Manheim Remarketing’s latest Market Analysis for Cars reports that average wholesale values have fallen in April by 2.3%. This follows three consecutive monthly rises which had seen values increase by 8% since December 2009.
Despite this latest fall, overall average used car values are still over 7.0% ahead of the same period last year. Both average age and mileage are up on last year by three months to 50 months and 3,400 miles to 50,879 miles reflecting extended use during the recession. The stronger position in 2010 over 2009 is evident across all sectors with Fleet values still ahead of April 2009 by 7.0%, Dealer also up by 5.2% and Manufacturer up by 6.7%.
Mike Pilkington, managing director, Manheim Remarketing said: “The traditional seasonal trends affecting average wholesale values which were missing last year have returned in 2010. The market toughened more considerably in April than a reduction of just 2.3% would suggest. Although the General Election may have impacted on levels of demand in April there is now more stock available in the market so we would expect values to soften again in May.”
For all the latest advice and information on fleet management, have a read of our fleet operations section.