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Manheim sees unexpected increase in wholesale used car prices in July

Average used car values rose by 4% to £7,203 in July, according to the latest market analysis from Manheim.

The increase in values follows on from a rise of 3% or £202 in June and as a result they are now £1,071 higher than 12 months ago.

The July increase in average values is the sixth month-on-month increase in the past seven months and Manheim believes it’s an unexpected occurrence in view of the seasonal trends experienced in previous years.

Average values in all three sectors rose with the fleet sector recording an increase of 1.2% (£77), the dealer sector an increase of 2.6% (£52) and the manufacturer sector an increase of 7.5% (£896).

Within the individual vehicle segments, examples of notable increases in average values include supermini, medium family and large family models in the fleet sector which rose by 2.7% (£102) to £3,884, by 4.0% (£220) to £5,759 and by 5.3% (£262) to £5,231 respectively.

In the dealer sector executive models rose by 7.1% (£206) to £3,124 and 4x4 models increased by 12.1% (£443) to £4,095 while in the manufacturer sector all vehicle segments increased in value.

Examples of falls in average values include compact executive and 4x4 models in the fleet sector which fell by 2.8% (£252) to £8,692 and by 7.0% (£902) to £11,918 respectively.
In the dealer sector superminis fell by 8.0% (£120) to £1,380 and MPVs by 10.0% (£243) to £2,193.

Mike Pilkington, Manheim Auctions & Remarketing managing director, said: “Unexpected though it is for this time of year, the market continues to go from strength to strength and does reflect the high levels of activity reported at all of our auction centres throughout the UK.

“Demand is still strong with good attendance and bidding activity both in the auction halls and online which seems to have delayed the seasonal price reduction expected during the summer months.”
 

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