The latest Manheim Market Analysis reports that average used car values in the fleet sector have fallen by 1.2% (£78 to £6,634) in May.
Meanwhile, the average age remained the same at 50 months and average mileage increased by 644 miles to 59,687. Overall average wholesale values were down 5.1% (£380 to £7,121) when compared with April and up 4.6% (£313) when compared with May 2011.
Although the overall average value fell by only 1.2% there were some significant movements in values within some vehicle segments. Superminis fell 3.6% (£153 to £4,083), Compact Executives were down 4.8% (£439 to £8,723) and MPVs were down 10.3% (£693 to £6,011). Meanwhile 4x4s increased in value by 3.9% (£424 to £11,391) and Coupes were up 6.5% (£727 to £11,832).
Daren Wiseman, valuation services general manager, Manheim Auctions, said: “The fall in fleet values of 1.2 % is surprisingly encouraging with market and economic pressures still present.
“This fall in values represents no more than the seasonal norm and must be seen as a positive in such a challenging trading environment. Interestingly we are now seeing renewed interest in 4x4s as prices have now reached a point at which they are perceived as excellent value for money.
“However, a word of caution, we still advise that values and reserves are set realistically in this sector in order to generate retail interest from a market that has limited appetite for them at the moment.
“We look forward to June with an air of trepidation as we now enter a busy period of events with national interest and we can only estimate the impact and diversion of retail interest and the knock on effect on wholesale demand during the coming weeks.”