Average used car values in the fleet sector fall by 2.5%

Overall average wholesale used car values fell by 2.5% (£168) to £6,640 in June, the third consecutive month that a fall in values has been reported, while the fleet sector also fell by 2.5% (£155) to £6,100.

Notable examples of decreases in average values in June in the fleet sector include Small Hatchbacks down 1.5% (£66) to £4,276, Compact Executive down 7.9% (£683) to £7,984, Mini MPVs down 1.4% (£66) to £4,800 and 4x4s down 7.4% (£952) to £11,932.

Examples of an increase in values for the fleet sector in June include Medium Family up 1.6% (£85) to £5,499.

Mike Pilkington, managing director, Manheim Remarketing, said: “Pressure on values and conversion rates continued during June. This pressure is a culmination of sporadic retail demand driven by increasing economic uncertainty combined with healthy supply. This limited retail demand appears to be set to continue through the forthcoming summer break and we anticipate further pressure on values. Buyers are still out in numbers but they are increasingly looking to cherry pick the best vehicles to replenish stocking levels.”