Fleet used car values increase by 6.7%

Manheim Remarketing’s latest market analysis for cars reports that the fleet sector experienced an increase in average values of 6.7% (£383) to £6,124 in January.

Meanwhile, overall average wholesale used car values increased by 4.2% (£278) to £6,847 in when compared with the previous month.

Dealer part exchange prices rose by 9.8% (£223) to £2,491 and manufacturer stock average values rose by 0.8% (£92) to £11,922.

But when compared with January 2010, with average age up by three months to 51 months and mileage up by 5,015 miles to 53,828 miles, average wholesale used car values are down by 4.7% (£340).

Examples of increases in values for the fleet sector in January include small hatchbacks up 8.7% (£345) to £4,330, medium family vehicles up 8.6% (£436) to £5,527, large family up 12.9% (£554) to £4,848, compact executives up 7.5% (£588) to £8,397, mini MPVs up 9.7% (£435) to £4,895 and 4x4s up 7.7% (£940) to £13,146.

Mike Pilkington, managing director, Manheim Remarketing, said: “The rise in values is similar to January 2010 (4.5%) and is further confirmation of the current market stability. Bidding activity online has been particularly strong this month with a record number of online vehicle sales. Increasingly buyers are using Simulcast to access auctions that they wouldn’t normally attend in person in the search for the right stock.”