For the fourth successive month, average wholesale used car
values dropped – and are now close to last December’s levels. In
July, overall average values fell by 0.8% (£52) to £6,588, just £19
above the £6,569 reported in December. The fleet sector fell by
3.2% (£195) to £5,905, dealer part exchange values fell by 0.9%
(£21) to £2,306, while manufacturer stock values increased by 2.1%
(£237) to £11,516.
Notable examples of decreases in average values in the fleet
sector in July include: medium family down 1.7% (£95) to £5,404,
large family down 4.8% (£231) to £4,626, compact executive down
2.1% (£168) to £7,816, mini MPVs down 3.4% (£162) to £4,638 and
4x4s down 7.3% (£877) to £11,055. Dealer part exchange medium
family vehicles fell 1.8% (£40) to £2,171 and compact executives
fell 7.1% (£245) to £3,226. Falls in manufacturer stock values
include coupés down 1.3% (£194) to £15,046, and 4x4s down 1.8%
(£401) to £21,238.
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Examples of increases in average values for the fleet sector in
July include: superminis up 3.8% (£145) to £3,907 and small
hatchbacks up 4.2% (£179) to £4,455. Dealer part exchange prices
for small hatchbacks rose by 2.6% (£47) to £1,858, for large family
by 3.7% (£63) to £1,748, and mini MPVs rose by 3.2% (£60) to
£1,937. Manufacturer stock small hatchbacks increased by 2.9%
(£232) to £8,210.
Manheim Remarketing’s managing director Mike Pilkington said:
“As predicted, pressure on values was much in evidence throughout
July, the main contributing factors being a combination of weakened
retail demand and the beginning of the holiday season. Although the
overall pressure on values is expected to continue in the short
term, quality stock is in short supply. Following four successive
months of decreases, there are plenty of cars at bargain
prices.”
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