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Used car prices rise in June

Average used car values rose by 3% in June, according to the latest edition of Manheim’s market analysis.

The June increase in average values is the fifth month-on-month increase in the past six months and is contrary to the seasonal trends experienced in previous years.

Average values in all three sectors rose with the fleet sector recording an increase of 1.6% (£100), the dealer sector an increase of 2.2% (£44) and the manufacturer sector an increase of 4.8% (£544).

Within the individual vehicle segments, examples of notable increases in average values include supermini, executive and 4x4 models in the fleet sector which rose by 9.1% (£315) to £3,782, by 5.4% (£558) to £10,959 and by 11.6% (£1,337) to £12,820 respectively.

In the dealer sector MPVs rose by 22.9% (£454) to £2,436 and 4x4 models increased by 10.6% (£349) to £3,652.

Examples of falls in average values include medium family, large family and mini MPV models in the fleet sector which fell by 3.3% (£189) to £5,539, by 5.2% (£270) to £4,969 and by 3.4% (£176) to £4,955 respectively. In the dealer sector superminis fell by 2.9% (£44) to £1,500 and Executives by 11.5% (£381) to £2,918.

Within the manufacturer sector, changes in the basket mix have contributed to the increase in average values despite average age increasing by three months to 23 months and mileage by 3,002 miles to 21,005.

In the month the proportion of executive vehicles increased by 4% to 14% and compact executive vehicles increased by 4% to 13%.
 

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