Although month-on-month figures show a slight decline, the average selling price for de-fleeted vehicles is up more than 12% on last July, according to the latest Manheim Market Analysis. This is despite an increase in both average age and mileage, at three months and 162 miles respectively.
Looking at the figures in more detail, the average selling price of ex-company cars rose for half of the ten vehicle segments considered, most notably for 4x4 vehicles, which lifted more than 16 % despite a rise in average age and mileage – this could potentially be down to an increase in the volume of large 4x4s in the basket. Compact executive models also saw an increase of almost 6 per cent despite a rise in average mileage. In contrast, Mini MPV vehicles saw the largest fall at just over 11%, although this followed a rise of 10 % in June so is less dramatic than it first seems and is reflective of a significant average mileage increase of more than 10,000 miles. Year-on-year, nine of the ten segments showed an increase in value, with only the Mini MPV lagging behind.
Daren Wiseman, valuation services manager at Manheim Auctions, commented: “Although the market for de-fleeting is facing the inevitable effects of the summer, things have not been as gloomy as first predicted. The positive sentiment of the Jubilee, Euro Championships and Olympic Games seems to have echoed through the used car market, with volumes recovering and values looking far healthier than this time last year. While there is still a deal of uncertainty in the marketplace, the fleet sector is looking more buoyant than we might have expected six months ago. It will be interesting to see how the latter portion of 2012 compares with the first half, as the first half of 2012 has looked far more positive for fleet managers looking to dispose of stock than the latter part of 2011, with percentage of new price retained also higher than the last six months of the previous year.”