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Used values up in January

Date: 09 February 2011

Wholesale used car values increased 4.2% to £6847 overall in January compared to the previous month, according to Manheim Remarketing.

In the fleet sector values rose by a steeper 6.7% to £6124 while dealer part-exchange prices climbed 9.8% to £2491.

Ex-manufacturer stock average values crept up by 0.8% to £11,992.

Year-on-year overall average values were down 4.7% but average age was up by three months to 51 months and average mileage was up by more than 5000 miles to 53,828 miles.

In the fleet sector small hatchbacks, medium and large family cars, compact executives, mini MPVs and 4x4s all showed healthy month-on-month increases.

Manheim Remarketing's boss Mike Pilkington said: "2011 has started positively with high attendances both online and in the auction hall, reflective of the increase in demand expected at this time of year."

With the rise in values similar to that seen a year ago, Pilkington said the market had returned to stability.

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