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.
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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