Manheim says realistic reserves are vital in latest Market Analysis
According to the firm's data, average fleet values increased by 1.7% (£76) to £6,036 last month. Average age was up by four months to 47 months compared to the beginning of the year, with mileage up by 6,237 over the same period.
Examples of increases in values for Fleet include Superminis up 9.2% (£299) to £3,535, Compact Executives up 3.0% (£237) to £8,154 and 4x4s up 6.7% (£784) to £12,427.
Reductions in average values in the Fleet sector include Small Hatchbacks down by 0.9% (£38) to £4,142, Medium Family down 0.7% (£39) to £5,298, Mini MPVs down 1.9% (£92) to £4,830 and MPVs down 4.6% (£306) to £6,287.
Overall average wholesale used car values increased by 1.1% (£77) to £6,813 in October following a drop of just 0.7% (£47) in September.
Mike Pilkington, managing director, Manheim Remarketing, said: 'October has continued in much the same vein as September with no huge influx of volumes impacting on either pricing or conversion rates but buyers are becoming more selective with clean, low-mileage and well-specified vehicles attracting greater interest. We are now entering one of the toughest retail periods of the year for used cars and as the market eases into the early winter months and retail demand traditionally tails off, it is vital that vendors set realistic reserves to move stock quickly.'