Fleet sector values up 2.7% in April, reports Manheim
According to Manheim's Market Analysis, the average de-fleeted car was worth £7,518 in April – £200 (or 2.7%) higher than the previous month. At £7,518, the average selling price was £392 (or 5.5%) higher in comparison with April 2014, signifying a stronger Q1 overall for the de-fleet sector. Manheim said such a significant upturn in value could be attributed to a shift in the quality of vehicles at auction. The average unit in April 2015 was 50 months old with 59,055 miles on the clock.
Daren Wiseman, valuation services manager at Manheim, commented: "As I outlined in last month's report, April tends to be an incredibly active month for the de-fleet sector. Although the plate change happens in March, buyers tend to be cautious and wait for the best quality vehicles to roll into the auction hall and that normally happens in April."
In total, seven of the 10 vehicle types covered in the report recorded an increase in value. The biggest price hike in April is found in the Executive range, with prices leaping from £11,948 to £13,205 – an increase of over £1,200 and testament to continued buyer demand for such vehicles.
Wiseman continued: "It's fair to say that Q1 has been an incredibly busy period and rewarding quarter for most de-fleet vendors. Buyer confidence is relatively high at the moment and so is their demand for top-quality stock.
"There's plenty of great stock in the market at the moment, younger and with fewer miles on the clock. The sector should take advantage of this and ensure they're remarketing strategies are completely up to scratch. We have the buyers and the interest, so the rest of May looks set to be another promising month!"