Average defleet car selling price up 2.7% year on year
Data from the remarketing giant’s monthly Market Analysis shows that the average price of a de-fleeted car at auction increased by £178 during 2013, reflecting a fall in the average mileage of 614 to 59,962 while the average age of vehicles remained the same at 52 months.
The analysis also shows the average selling price of ex-fleet cars was £6,795 or 2.7% higher in December 2013 when compared with December 2012.
Looking at the particular vehicle segments, values increased for seven of the 10 segments year-on-year, most notably for MPV models, which saw prices increase by £1,620, from £7,022 in December 2012 to £8,642 in December 2013. This is reflective of average age decreasing from 57 to 48 months and a significant drop in average mileage from 72,829 to 59,643.
In contrast, the coupe sector saw a notable fall in year-on-year values, with prices falling by £2,046, to £8,887. This is reflective of an increase of five months in average age and 1,301 miles compared to December 2012.
Daren Wiseman, valuation services manager at Manheim, said of the past 12 months: ‘It’s largely been a seller’s market and residual values have been strong.’
However, he warned that firms that have an in-depth knowledge of the market, along with a flexible supply chain, will continue to achieve the best values for vehicles. He also emphasised the need for developing appropriate remarketing strategies.