City and small vehicle segments perform well in December
New data from G3 Remarketing shows volumes decreased in December by around 4.3%, as contract hire stock finds its path through to the auction. Average fleet prices were around £8,342, down £204 month on month. Finance vehicles also declined in value, with average prices at £5,930, a decrease of £408. This could be due to the reduced volumes having a negative impact on overall values.
The firm’s data also shows that the city and small vehicle segments performed well again in December. Citroens have experienced strong demand for the C1 & C3 models with sensible mileage and aged around 18 months. These models achieved average returns of 101.7% throughout the month. The Renault Clio of a similar age achieved in excess of 102.3%, whilst Fiat 500 (101.5%) and Punto (103%) also performed well.
Sub 12-month old Hyundai I10 struggled along with Fiesta and Citroen DS3, with a general lack of appetite for Focus variants in the medium segment. The 4×4 market continued to strengthen. However as yet, the market is still to witness excessive performance across Land Rover and BMW brands. Hyundai X35 continues to look attractive and performs in excess of CAP based on mileage, condition and spec, even in 2WD versions.
Segment value levels have increased slightly in December 2013. The best-performing value markets appear to centre between the £5,200-£5,600 mark and G3 expects this to increase in January 2014.
Mileage has seen a slight increase in December 2013, with average mileages now around 58,825 with average ages dropping to 36.1 months.
Matt Dale, director of G3 Remarketing, said: ‘Volumes are expected to increase in January, with overall conversion rates rising.
‘We predict that it will take a few weeks to get going in early 2014, with a higher volume of stock being seen at physical auction than in previous years. This will take a little more time to remarket, but we expect the market to hit its peak late January, early February.’