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Fleet values fall in September but conversion rates rise

The wholesale market brought mixed results in September, with higher volumes and lower average selling price but a fall in stocking days, Manheim has reported.

Used cars ready for auction with Mannheim

September’s wholesale market saw lower stocking days, despite higher volumes compared to August, Manheim reports

Data from parent firm Cox Automotive for the ex-fleet market shows prices fell to £9,280, 7.4% down from August, but fleet and leasing vendors benefited from stronger conversions, with the quickest average time to sell since April at 14.4 days in stock.

Overall average selling prices fell by 4.4% (£255) to £5,523 while volumes increased 3.1% for both Manheim’s physical and online auctions. However, stocking days were down here too, with cars recording an average of 9.2 days in stock – the quickest speed of sale for at least 12 months.

SUV values were up 3.9% in the wholesale market and while prices of petrol cars held firm, there was a slight drop in the average selling price of diesel cars.

Prestige marques saw used values rise by 1.6%, while volume brands had average selling prices 3.6% above their figure in August.

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Natalie Middleton

Natalie has worked as a fleet journalist for 16 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.