Used values fell 4.4% last year
21 January 2011
Average wholesale used car values fell by 4.4% or £306 in 2010 compared with 2009, according to Manheim Remarketing market analysis. Average age increased by three months to 51 months and average mileage rose by 4009 to 53,605 miles. The fleet sector experienced the biggest decrease of the year as average values fell by 7.2% (£443) compared with manufacturer stock, which was down by just 1.1% (£126) while dealer part-exchange prices rose by 5.5% (£118).
Overall used values for December were also down, said BCA. Despite rising by £113 to £5905 from the previous month, year-on-year prices fell by 4.7% or £283. However, fleet used values told a different story, increasing by £120 (1.7%) to £7235 - reversing two consecutive monthly falls that had seen values decline by around £600 in an eight-week period. Year-on-year values are ahead by £210, equivalent to a 3% rise. BCA attributed this change was to short supply and decent demand.
Values at Manheim also fell in December by 4.1% (£283) to £6569. But fleet sales painted a different picture from its rival firm: average fleet values fell by 6.4% (£395) to £5741. Manheim said the only increase in average values in the fleet sector was for executive cars, up 3% to £10,039.
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