The fleet industry is bracing itself to see how far residual values will fall after Manheim revealed ex-fleet car values have fallen for the first time this year.

Manheim’s September market analysis revealed that average values in the fleet sector fell by 2% (£131) to £6,550.

This is the first decrease in average values in the sector since December 2008.

While fleet values fell, overall average values rose, although by just 0.6% (£46 to £7,436).

Manheim said this low rate of increase suggests that the market may finally be reaching a plateau.

Within the fleet sector, examples of notable decreases in average values include superminis (down 6.9% to £3,748), compact executives (down 4% to £8,961) and 4x4s (down 6.3% to £11,414).

However, ex-fleet small hatchbacks and medium family models rose.

Mike Pilkington, Managing Director, Manheim Auctions & Remarketing said: “The first recorded fall in average values in the fleet sector this year and the modest increase in overall values suggests that the market is inevitably beginning to level off after unprecedented growth this year."

BCA has reported that values of ex-fleet cars sold at its centres last month actually rose.

However, overall used car values decreased for the first time since last November.

It also saw supply increasing significantly during the month, for the first time this year.

The overall average value for cars sold by BCA in September was £6,217 - just slightly down on the August figure of £6,223.

Contrary to Manheim's results, BCA saw values of fleet and lease cars rise by 3.5% to £7,850.

BCA’s communications director Tony Gannon said: “Internal BCA data shows that there was a marked shift in the market that took place in mid-September. Average values for the two weeks commencing the 21st and 28th September fell sharply as did performance against CAP.

"However, of greater significance, the supply of used cars increased dramatically with BCA stock increasing in the month by over 20% - the first such notable increase this year.

"Vehicle entries into auction rose in parallel and conversion rates fell.

"This is the most noticeable shift in market dynamics since the first days of January."