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Used car values rise

The used car market is in good shape when compared with the tough new car sector according to Manheim’s latest Market Analysis report.

Across a sample of 87,000 cars sold by Manheim in Q3 2006, values increased by 3.1% to £6,174, the highest recorded performance seen since the Manheim report was first launched. When compared with the same period in 2005, average prices have risen by more than £600.

The manufacturer sector saw values rise by just over £1,000, to a 27-month high of £11,413. The buoyancy of the Q3 used market was helped by lower volumes of late year cars which often meant that demand exceeded supply. This was reflected by a positive increase in the proportion of cost new retained, up 3% to 64% at 14 months and 15,000 miles.

Sector summaries

Fleet/Lease sector

  • Average age was unchanged at 44 months with mileage down fractionally
  • Average values increased to £5,167, nearly £200 more than Q3 2005
  • Proportion of original cost new remained static at 33%
  • Stocking days fell from 20 to 17 days

    Manufacturer sector

  • Average age has reduced by one month to 14 months, with mileage down by 1,670 miles to 15,801 miles
  • Average values rose by just over £1,000 to a 27-month high of £11,413
  • The proportion of original cost new rose 3% to 64%
  • Stocking days reduced from 11 to 8 days, the lowest in 3 years

    Dealer sector

  • Average age increased marginally to 87 months with mileage increasing slightly to 70,750
  • Average values were similar at £2,356
  • The proportion of original cost new remained unchanged at 17%
  • Stocking days remained the lowest at 5 days

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