Latest data for Manheim’s ex-fleet car auctions show November values fell in line with seasonal trends but conversation rates remained strong.

The wholesale car market showed signs of strength in November, despite some expected seasonality, according to Manheim.

Manheim’s ex-fleet car auctions saw significant increases in volume in November, with 11.3% more cars selling in-lane and online. The increase in supply and seasonal factors contributed to a 10.4% drop in average selling prices compared to October, reflecting a similar decrease in 2015, with the average ex-fleet car achieving a hammer price of £8,891. Average wholesale selling prices dipped by 4.5% to £5,644.

However, car auction mileage reached a record low of 61,916, with the average ex-fleet car having 39,980 miles on the odometer.

Conversion rates were strong, with the average ex-fleet car taking one day less to sell (13.5 days), with the same increase in speed of sale seen across the entire wholesale car market, with the average car recording just 9.4 days in stock.

SUVs put in a strong performance in line with seasonal trends. The average selling price of SUVs at Manheim’s auctions rose by 4.5% month-on-month, with younger, lower-mileage ex-fleet SUVs on average selling for 8.1% more than in October.