The average price of ex-fleet and part-exchange vehicles rose in May compared to the same month in 2014, according to remarketer Manheim.

Values in the de-fleet sector rose by 2.8% year-on-year to reach £7,158, while the average vehicle age was four months younger than May 2014 at 51 months. The average price of the ex-fleet vehicle dropped by 4.7% (£360) compared to April.

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According to Manheim, the figures from May 2014 to last month reveal a direct correlation between maturity and value.

Daren Wiseman, valuation services manager at Manheim, said: "It’s not as simple as saying ‘the newer the car, the higher the selling price’, but it’s no secret that a vehicle’s maturity plays a central role in determining its value. Obviously, age is just one factor. To command top drawer prices, a de-fleeted vehicle needs to have a relatively reasonable mileage and should be in best-quality condition. External influencing factors, such as demand, might lie out of our control but shouldn’t be ignored."

The average selling price of part-ex vehicles was at £3,308 in May, £231 (7.5%) higher than comparable figures from the same month of 2014, while age and mileage remained stable.

On the other hand, the average price of a part-ex vehicle at auction was £59 down compared to April.

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Wiseman said: "According to data released by the SMMT, April recorded record-breaking levels of new cars registered – and this is good news for the part-ex sector. The SMMT has very recently announced May’s new car registration levels and it is more good news.

"British new car registration grew by 2.4% year-on-year meaning, in total, sales were up by a total of 5.7% in the first five months of 2015. Some of those new cars will of course one day need to be re-marketed and sold at auction, so in the long-term, the supply chain looks good."