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Auction values drop 5%

Fleet vehicles going through the auction halls saw their average values fall by 5% in June.

Analysis from Manheim saw the average selling price drop by £282 to £5,562 – a fall in retained new value from 37% in May to 35% in June.

However, year-on-year average fleet prices in June 2007 are £367 ahead of the same period last year, and 2% ahead on retained cost.

Rob Barr, Manheim’s communications director, said: “We have been reporting how strong the overall car market has been for the last year and, even against two consecutive months of falling prices, the market is still very stable and demand remains strong for the right stock.

“It is really only the poorer condition and very high mileage cars which are struggling.”

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