Auction market in ‘rude health’, says Manheim
Average selling prices for ex-fleet cars and the overall wholesale market rose in December, according to Manheim.
In the ex-fleet market, the average selling price rose by 2.6% to £9,121, with ex-fleet cars recording their lowest average mileage for six months.
The overall average selling price for used cars stood at £5,871, 4.0% up from the previous month and in line with the uplift seen in December 2015. Average mileage was 61,167, the lowest figure ever recorded by Manheim, and was down by 3.5% from the same month last year.
Values were aided by a month-on-month drop in wholesale volumes but there was a slight increase in days in stock. Prestige vehicles were the strongest performers, with values up by 7.3% from November to £10,985.
Used diesel car prices increased month-on-month by 4.0% but 3.4% down from the same month in 2015. Petrol car prices were up 1.6% in the wholesale sector and were also above their 2015 level.
Daren Wiseman, head of valuations at Cox Automotive UK, said: “Dealers were out in force in December, and while we saw an expected drop in auction volumes, they were paying top money for the stock they wanted in the run-up to Christmas – some of which was being sold rather than held over the holidays. We expect to see a strong start to the year in the wholesale market, which appears to be in rude health.”