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Used car values stabilise in November, reports Manheim

Used car values remained flat in November, falling by just 0.06% or £4 to an average of £7,169 according to Manheim’s latest market analysis.

Average values in the fleet sector fell by 3.2% (£207) to £6,206, dealer part exchange values fell by 5.0% (£119) to £2,236 while manufacturer stock rose by 4.2% (£536) to £13,235.

Fleet

Within the fleet sector, examples of notable decreases in average values include small hatchbacks, medium family, large family and compact executive models which fell by 0.6% (£29 to £4,446), by 1.9% (£111 to £5,593), by 6.8% (£362 to £4,959) and by 3.0% (£250 to £7.986) respectively.

In addition mini MPVs fell by 6.0% (£346 to £5,434). Increases in values in the fleet sector include superminis which rose by 7.9% (£270 to £3,694).

Dealer part-exchange

Notable decreases in dealer part-exchange values include superminis which fell by 6.0% (£92 to £1,439), small hatchbacks which fell by 8.1% (£164 to £1,864) and medium family vehicles which fell by 3.7% (£80 to £2,094). In addition executive vehicles fell by 4.6% (£160 to £3,321) and mini MPVs fell by 8.7% (£218 to £2,274).

Manufacturer

In the manufacturer sector medium family vehicles rose in value by 4.5% (£470 to £10,870), large family vehicles were up by 6.3% (£734 to £12,325) and 4x4s were up by 3.6% (£568 to £ 16,392). Meanwhile superminis fell by 2.4% (£133 to £5,320), small hatchbacks fell by 1.4% (£114 to £8,088) and compact executive vehicles fell by 0.8% (£122 to £15,564).

Mike Pilkington, Manheim auctions and remarketing managing director, said: "Average wholesale values stabilised in November but are still 36.0% (£1,898) higher than 12 months ago.

"The fleet and dealer sectors suffered value falls of less than the seasonal norm and the manufacturer sector performed significantly better than predicted. These results confirm the continued underlying strength in the market despite falling retail demand at this time of year; indeed wholesale purchasing activity was vigorous in the month from some dealers as they anticipate rising values and stock shortages in the New Year."

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