Fleet News

Vehicle values remain steady amidst advancing marketplace

Fleet news logo

Cox Automotive’s wholesale and retail brands saw a year-on-year increase in sold volume throughout June, with a proportional shift in the types of vehicles sold meaning vehicle values have remained steady.

This month, Manheim car auction centres recorded an average mileage of 60,077 for vehicles sold, a figure similar to last month, but down 5.3% from June 2016. Sold volumes were down 6% compared to May, despite showing a year-on-year increase of 3.9%.

There was a larger proportion of sold vehicles in the £10-15k price bracket compared to June 2016, which helped to bring the overall average selling price to £6,114, up 5.2% from last year.

In the ex-fleet market, Manheim sold volumes fell slightly from last month, despite maintaining a year-on-year growth of 19.9%. The average selling price of ex-fleet cars fell slightly following last month’s increase, showing a 5.4% overall decrease from June 2016 to £9,697.

Part-exchange volumes were down this month, showing an 8.78% drop from May, and a 4.5% year-on-year decrease. Despite this reduction, the average sold price rose by an average of 3.23% from May, making for a steady 7.3% increase against June 2016.

Despite a general decrease in sold volumes compared to last month, actual vehicle value remains steady, with little variance in wholesale prices in the 12-month period to June 2017.

Fluctuations in average sold price and volume this month imply a change in the type of vehicle sold, as opposed to an overall decrease in value.

In the retail market, Motors.co.uk saw a 7.9% year-on-year increase in average selling price, with the mean figure climbing to £13,452 this month, showing only a slight change from May.

Online trade auction platform specialist, Dealer Auction, experienced a 3.4% increase in the average selling price of vehicles from the previous month, with the figure rising to £4,219. June also saw 3,003 diesel vehicles sold at 96.6% of the CAP clean price, compared to the 3,125 sold in May at the slightly lower average of 96.2% of the CAP clean.

Units funded by wholesale stock funding business, NextGear Capital, remained fairly stable, with a slight drop of 0.5%. This came alongside a 2.1% increase in the average unit cost, which rose to £6,850 this month.

Click here for remarketing best practice and procurement insight

Login to comment


No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee