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Average fleet values fall as volumes rise, reports Manheim

Average selling prices for ex-fleet cars fell in February although the overall price for all used cars rose compared to the same month last year.

cox

Average mileage decreased almost 13% year-on-year for ex-fleet stock.

Latest Manheim data shows the average price of ex-fleet cars was recorded at £10,202 in February, falling by 3.7% from February 2016 while the volume of ex-fleet stock rose by 16.7%. Average mileage decreased 12.6% year-on-year for ex-fleet stock.

In contrast, the average selling price of all used cars increased by 4.8% year-on-year, to £6,407, rising by 12.1% from January. The average mileage of all used cars at Manheim decreased by 8.2% to 59,245 – the lowest figure ever recorded.

Daren Wiseman, head of valuations at Cox Automotive UK, said: “We saw a very strong start to February, with strong conversion rates in our wholesale channels. Towards the end of the month, we saw slightly more tentative buyer activity as dealers looked ahead to an expected increase in volume in March. We expect to see demand remain stable, with any potential easing in values more likely towards the end of the month and into April.”

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Natalie Middleton

Natalie has worked as a fleet journalist for 14 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie works across the magazine portfolio and updates the company websites with daily news, interviews and road test content.