The latest Manheim Market Analysis reports that average values in the Fleet sector have increased by 1.8% (£113 to £6,270) in February with strong performances for MPVs, Compact Executives and Medium Family vehicles. MPVs increased 7.4% (£494 to £7,154), Compact Executives increased 3.6% (£293 to £8,314) and Medium Family by 2.9% (£163 to £5,785). Overall average wholesale values are up 3.1% (£214 to £7,030) when compared with January and up 0.7% (£46) when compared with the same period last year.
Volumes in the Fleet sector remain stable for most vehicle segments except Compact Executive which has gone from 14% in February 2011 to 10% this year. In addition to the lower volume, average age and mileage of Compact Executives has increased by 10 months to 56 months and by 6,299 miles to 72,617. Although performing well when compared with January values Compact Executives are down 5.6% (£496) when compared with February 2011.
Other increases in February in the Fleet sector include Superminis up 1.5% (£66 to £4,335) even though average age had increased by five months to 43 months; Executive vehicles up 1.8% (£183 to £10,299) and Mini MPVs up 2.0% (£91 to £4,686).
Daren Wiseman, valuation services general manager, Manheim Auctions said: “The decline in new car registrations in 2008 and 2009 is now beginning to impact on the volume of three and four year old vehicles coming into the wholesale used car market. We are seeing increased demand for these younger, lower mileage vehicles and as the volumes of these vehicles decrease then we are likely to see those values strengthen.”