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.
Fleet/Lease sectorAverage 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 sectorAverage 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
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