Prices of de-fleeted cars at auction rose in January, coinciding with a drop in the average age of vehicles, according to Manheim’s latest monthly analysis.
The New Year saw ex-fleet prices rise to £6,752, an increase of £135 compared with December and a rise of £595 (or 8.8 per cent) year on year.
Latest data from Manheim’s monthly Market Analysis also shows that the age of fleet vehicles dropped again in January, falling from a high of 53 months in November 2012 to 50 months currently. Clearly, such a decrease in the age of ex-lease vehicles at auction has affected prices achieved in the wholesale market. An increase in average mileage from 60,576 to 61,822 has not had an adverse impact on prices achieved.
Manheim’s monthly report on the wholesale vehicle sector shows a market that has been fluctuating during the latter part of 2012. The age of vehicles coming under the hammer continues to be an influencing factor where selling prices are concerned.
Daren Wiseman, valuation services manager at Manheim, commented: “There still seems to be some market sensitivity over registration number changes, with dealers prepared to pay more for younger vehicles with around 60,000 miles on the clock. This trend combined with the general shortage of wholesale stock during 2012, has seen the selling price rise over the last twelve months from £6,157 to £6,752. Although, the residual values of ex-fleet stock going to auction have remained fairly static during the year, vehicles have on average retained 34 per cent of their new sale price.”
January saw selling prices rise in five of the 10 niches covered in the report. Most significantly, executive models increased by £329 or 7.5 per cent during the month. The most notable falls in values were recorded by coupé models, which fell by £515 or 10.8 per cent, reflective of an increase of five months in average age and of 5,333 miles.