Manheim’s latest monthly market analysis shows that demand for fuel efficient vehicles remained steady despite May’s slowdown in the UK wholesale used car market continuing into June.
At £6,584, the average price for all cars sold was £184 (-2.7%) down compared with May but just £61 (-0.9%) down compared with June 2007.
While the hardening of the market reported in May has continued due to the economic uncertainty, average price movements were not consistent across all segments.
The increase in average selling price within the fuel efficient supermini segment in June, up £140 (+4.2%) compared with the previous month and by £106 (+3.1%) on June 2007, indicates that demand for them is steady.
However, in the 4x4 segments, both ‘soft roader’ vehicles and larger ‘off road’ vehicles experienced falls in average prices compared with the previous month of 7.0% and 13.9% respectively.
In the fleet sector the values fell by just £83 (-1.5%) and in the manufacturer sector values rose by £270 (+2.5%).
The dealer sector more closely reflected normal seasonal trends with values down £89 (-4.5%).
Mike Pilkington, managing director, Manheim Auctions & Remarketing said: “The tougher market for wholesale used cars first reported in May looks set to continue for some time yet, but we are encouraged by the fact that the conditions do not seem to be affecting all market segments or all sectors.
“We must not forget that whatever the economic situation we could also see the traditional seasonal trends having an influence on activity and values.”