Fleet values tumble 2.8% in February
The report show that fleet values by 2.8% (£184) to £6,425 in February compared with the previous month, while overall values stabilised with an increase of just 0.3% (£21) to £7,208.
Within the fleet sector, examples of notable decreases in values include:
• Medium Family down 1.7% (£102) to £5,793
• Large Family down 3.7% (£191) to £5,016
• Compact Executive down 8.2% (£748) to £8,343
• 4×4 down 7.6% (£1,036) to £12,607.
However, things were more positive in the Superminis vehicle segment, with a rise of 3.9% (£143 to £3,770).
Mike Pilkington, managing director, Manheim Remarketing, said: 'The message from the February market is clearly one of stability. Whilst there was a drop in values in the fleet sector, this was influenced by a rise in the average mileage and an increase of three months in the average age of stock that came through our 20 remarketing centres.
'The inclement weather, although better than January, failed to deter buyers with both physical and online attendances remaining strong. The continued success of our new super-centre at Bruntingthorpe confirmed the appetite of motor trade buyers for quality fleet stock and the rise in values by 4% within the manufacturer sector indicates a healthy demand from franchised dealers.'For more of the latest industry news, click here.