Values for part-exchange and de-fleeted vehicles remained "healthy" in August, according to remarketing firm Manheim.

The company reported that while average part-exchange vehicle age increased by one month and mileage increased by 1,327, values dropped by only 2.8% over the month to £2,629.

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However, year-on-year value of part-exchange vehicles was up 6.5% from £2,469, despite a rise in average mileage of 1,471 and a two-month age increase.

Executive vehicle values performed well, rising on average £19 with a mileage increase of 863, while coupés were the worst performer, dropping £333 on average, as both average age and mileage increased.

Daren Wiseman, valuation services manager at Manheim Auctions, said a "continued shortage" of quality cars was keeping values high. However, with figures from the Society of Motor Manufacturers and Traders showing a rise in new car sales and the September plate change, "which typically accounts for around 17% of the full-year registrations," plenty of new vehicles may soon be "feeding the starved market," said Wiseman, concurring with both British Car Auctions and SMA Remarketing.

Ex-fleet

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Meanwhile, average value of de-fleeted vehicles fell by 0.7%, or £52, over the month, with no change in age and mileage falling by 463 miles.

The average de-fleet value was up 6.7% year-on-year to £6,939, reflecting a drop in mileage of 4,268 and in age of two months.

The price rose across August in four segments, and superminis performed best with a £396 increase to £4,222 while age dropped four months and mileage dropped by 3,571. At the same time the coupé segment saw the average price fall £830 as average age rose five months and mileage increased by 1,983.

Wiseman said: "It’s significant to note that holiday season has played a role in the drop in average values over the month, with the number of buyers physically attending auctions during August falling compared with the early summer months."

He noted the August drop-off was less than previous years due to increasing use of Simulcast technology to participate in auctions online.