Manheim reports increase for fleet values in September
Manheim Remarketing's latest Market Analysis for Cars reports that average wholesale used car values in the Fleet sector increased by 2.9% (£169) to £5,960 in September. At 49 months the average age of Fleet cars is six months higher than at the beginning of the year with mileage up by 7,088 over the same period.
Examples of increases in values for Fleet include Small Hatchbacks up 4.6% (£183) to £4,180, Large Family vehicles up 4.4% (£203) to £4,786 and MPVs up 11.9% (£700) to £6,593.
Overall average values, impacted by a change in the model mix in the manufacturer sector, remained fairly stable with a drop of just 0.7% (£47) to £6,736. Average vehicle age has remained static but mileage has increased by 454 miles to an average 52,785 miles.
Manheim notes that there has been a significant drop in overall average used car values since September 2009, with prices now down by 9.4% (£700). The Fleet sector is down by 9.3% (£615).
However, Mike Pilkington, managing director, Manheim Remarketing, said that the immediate future looks stable for values: 'September has been a relatively strong month in terms of both price performance and conversion rates. The increase in Fleet values suggests the return of the traditional autumn seasonal uplift and improved buyer confidence. In the short term we do not expect to see any unreasonable pressure on values or conversion rates and with no huge influx of vehicles anticipated during the next few weeks the immediate future looks set to remain stable.'