Ex-fleet car values down slightly in October but up year on year
The firm’s figures show that its October car auction volumes were up 33% over the same month in 2014, and softened by 2% (£151) compared to September despite de-fleeted car values rising by 4.6% (£326) year-on-year.
Compared to October last year, ex-fleet cars sold by Manheim retained 2% more of their original value (36%). All vehicle segments saw their average selling prices up from 12 months ago, with the strongest performers being MPVs, values of which were up 26.8% (£1,796); and superminis, which saw values up by 20.4% (£869).
The ex-fleet market in October also saw 4x4s continue their earlier-than-expected rise in the run up to the winter months, with average selling prices 10.7% (£1,396) higher than the same month last year.
Average selling prices for some segments did rise in October, highlighting increased demand. De-fleeted executive car values rose by 8.1% (£1,015), while mini MPV and MPV prices both increased by 9.6% (£443 and £742, respectively) compared to September.
With the rising popularity of SUVs, volumes for the large family car segment continue to decline, falling 4% year-on-year and 2% from last month. The volume of ex-fleet 4x4s sold by Manheim in October was up by 2% from the same month in 2014.
Daren Wiseman, valuation services manager at Manheim, said: “As predicated last month, with significant growth in de-fleeted volumes following the record month of new car registrations in September, we unsurprisingly saw values soften in October.
“The performance above last year was evident in residual values, with ex-fleet vehicles retaining an average of 36% of their original value, compared to a figure of 34% the same time last year.”