Vehicle remarketing group Manheim has reported the prices of both part-exchange and ex-fleet used vehicles in July were down slightly month-on-month but up significantly on the prices of July 2012.

The average price for a part-ex vehicle was £2,703 for July, down £65 (2.3%) on June, but up 9.2% on the £2,476 recorded in the same period 2012. The figures are similar to those of the latest BCA Pulse report.

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Not all vehicle segments rose year-on-year and the average price of a supermini fell slightly, from £1,772 to £1,766, although other segments increased dramatically, such as compact executive models, which rose from £3,506 to £4118.

Daren Wiseman, valuation services manager at Manheim Auctions, said: "Clearly, dealers have learnt their lessons well in the last couple of years and have become much more selective about which models they remarket via auction."

Ex-fleet

An average price of £6,991 for ex-fleet meant a 5.1% fall on the £7,368 recorded in June, the highest average price of 2013, however this was still up £371, or 5.6%, year-on-year.

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According to Manheim, at least part of the monthly fall in value can be put down to an increase in age and mileage of cars, which rose by two months and 710 miles to 50 months old and 58,078 miles respectively.

The only vehicle segment which rose in value month-on-month was large family models, up by £152 from June.

Wiseman concluded: "Although the market for de-fleet vehicles is facing the inevitable effects of the summer, things have not been as gloomy as first thought."

Mazda Auction

Mazda also reported strong returns in a physical closed auction at Manheim’s Coventry centre.

Mazada has remarketed cars through Manheim closed auctions since February 2012, and the Coventry event saw a 90% conversion on the 122 vehicles put up for sale.

Total sales were £1.72m, and 46 of the cars sold were CX-5 or Mazda6 models.