Fleet News

Slight rise in used car values

Manheim's latest car market analysis reveals that overall values rose by £39 (0.6%) during July, having fallen by £346 (-4.7%) during June, but increased by £43 (0.6%) during May 2010.

The increase in values during last month was recorded despite no change in average age, static at 51 months, and just a small increase (87 miles) to 50,983 miles in average mileage.

There was a fall of 3% in the volume of cars sold year-on-year. However, a fall of 1% in the % new price retained was indicative of variances in the mix of models sold.

Furthermore, the average selling price during July was £186 (-2.6%) lower than during July last year, although average age was two months higher and average mileage 1,740 miles higher during July 2010.

In the fleet sector, the average selling price fell by £219 (-3.6%) during July, having fallen by £465 (-7.0%) during June and by £39 (-0.6%) during May.

The fall in values during July was partially reflective of an increase of one month in average age and of 190 miles in average mileage.

At £5,925, the average selling price was also £606 (-9.3%) lower in comparison with July 2009, although this was primarily reflective of an increase of three months in average age and of 1,083 miles in average mileage.

The % new price retained fell by 1% during July and, at 34%, was also 3% lower in comparison with the same period in 2009.

The average selling price increased for only MPV models during July by £93 or 1.3%, despite an increase of two months in average age and of 4,947 miles in average mileage.

The % new price retained was static at 34%. The most notable falls in values were recorded by executive (-9.7%), 4x4 (-7.5%), supermini (-6.1%) and small hatchback models (-5.3%).

The average age of executive models rose by four months and average mileage by 3,148 miles, with the % new price retained falling by 3%.

Similarly, the average age of 4x4 models fell by five months and average mileage by 3,044 miles, with the % new price retained falling by 4%.

The average age of Supermini models fell by one month, although average mileage fell by only 50 miles, with the % new price retained falling by 4%.

In contrast, the average age of small hatchback models rose by one month, although average mileage fell by 759 miles and the % new price retained by 2%.

For the full report click here.

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