Average used car wholesale values increased by 5.4% (£353) to £6,912 in September - the first increase since April - and overall values in the fleet sector were up 3.5% (£209) to £6,154, according to Manheim Remarketing’s latest Market Analysis for Cars.
Dealer part exchange values were up 3.5% (£77) to £2,289 while manufacturer stock values increased by 7.8% (£890) to £12,276 due in part to a decrease in average age and mileage.
Notable increases in average values for the fleet sector in September included: small hatchbacks up 4.5% (192) to £4,503; medium family up 2% (£112) to £5,570; large family up 4.4% (£206) to £4,901; and 4x4s up 2.1% (£242) to £11,666.
Examples of decreases in average values include Mini MPVs in the fleet sector down 5.4% (£255) to £4,461.
Mike Pilkington, managing director, Manheim Remarketing, said: “With supply of quality used stock into the wholesale market shorter than expected in September the month has been characterised by dealers desperately hunting for quality vehicles.
“Although prices and conversion rates inevitably cooled towards the end of the month the good weather has perhaps given the market a more optimistic outlook for the harsher trading months ahead.”