Manheim’s latest Market Analysis for Cars reports that in October average wholesale values fell by 3.5% to £7,173.
This only the second decrease since December 2008. Average values in the fleet sector fell by 2.1% to £6,413, manufacturer stock fell by 5.3% to £12,699 while dealer part-exchange values fell by 2.4% to £2,355.
Worst performers in the fleet sector were small hatchbacks, medium family and compact executive models which fell by 8.6%, 5.7% and 8.1% respectively.
In the manufacturer sector, superminis fell by 9.0%, small hatchbacks by 10.5% and large family cars by 10.3%.
Among unwanted part-exchanges, superminis dropped 2.1%, compact executives fell 3.0% and executive cars slumped 15.4%.
Better performers were ex-fleet large family models, ex-manufacturer coupes and part-exchanged 4x4 cars.
Mike Pilkington, managing director, Manheim Auctions & Remarketing, said: “These price movements are in line with seasonal norms and reflect the more cautious and selective approach to purchasing stock at this time of year.
"Although demand remains healthy, some vehicles are now struggling to find new homes.”