Manheim reports 6.7% rise in fleet values for January
The firm's latest Market Analysis for Cars reports that fleet values were up 6.7% (£383) in January to £6,124.
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.
Meanwhile overall average wholesale used car values increased by 4.2% (£278) to £6,847 in January when compared with the previous month.
However, 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).
Mike Pilkington, managing director, Manheim Remarketing, said: '2011 has started positively with high attendances both online and in the auction hall, reflective of the increase in demand expected at this time of year. 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.'