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.
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.