Manheim’s auction centres throughout the country are reporting an unexpectedly strong start to 2012 with large numbers of buyers turning out both in the auction halls and online, lively bidding reported by the auctioneers and high prices achieved.
The strong start follows the usual seasonal slow-down in the lead up to the Christmas and New Year holiday period and suggests that demand for used cars during the first few months of the year is expected to be robust.
The first sale of the year at Manheim Auctions, Bristol on behalf of Hitachi Capital resulted in a conversion rate of 89% and average values achieved of 101% CAP Clean.
Some examples include a 2008 Audi A4 2.0TFSI which achieved 132% CAP Clean, a 2008 Mercedes-Benz C180K Sport at 129% CAP Clean, a 2008 Mazda 3 at 125% CAP Clean, a 2007 Ford Focus 1.6TDCi at 115% CAP Clean and a 2007 Peugeot 207 1.4SE at 114% CAP Clean.
Meanwhile, despite continuing economic uncertainty throughout most of 2011 Manheim’s latest Market Analysis for Cars reports that average wholesale used car values fell by just 0.6% (£41) to £6,528 during the year. During the same period average age increased by four months to 55 months and average mileage increased by 1,831 to 55,436 miles.
In the fleet sector average values fell by 4.8% (£280) to £5,561 in 2011, average age increased by three months to 51 months and mileage increased by 3,519 to 62,200 miles. Dealer part exchange average values increased during 2011 by 4.3% (£96) to £2,321 with average age up by three months to 99 months and mileage up by 1,816 to 76,170 miles.