Manheim’s latest retail used car sales figures for July reveal that although consumer demand fell for the fifth consecutive month, the decrease was marginal, from 11.4 average sales per month in June to 11.1.
Across most of Manheim’s indicators there was month-on-month parity or only very slight falls in July.
Traffic coming into dealers’ showrooms fell from 22 recorded enquiries to 21 and online enquiries remained static at 12.
There were small falls in sales of small hatchback and mini-MPVs but sales of compact exec models actually rose.
John Simpson, managing director of Manheim Retail Services, said: “It i reassuring, after a prolonged period of declining consumer demand for used cars, to see it beginning to level off and indeed overall used car sales volumes are still marginally higher than where they were in July 2008.”
In the wholesale market, Manheim reports that prices across all vehicle segments were up.
Prices were particularly strong in medium family (up £564), small hatchback (up £430) and mini-MPV segments (up £593).
Older, dealer part-exchange vehicles were also up, but by a more modest £65 with average conversion rates at 86%.
Mike Pilkington, managing director of Manheim Auctions & Remarketing, said: “A jump of more than £500 in average wholesale stock for retail to more than £8,000 underlines just how strong the wholesale market for used cars is currently.
“First-time conversion rates have also leapt back up to 92%. This is quite remarkable when it is considered that this is normally a quiet period where prices tend to drift downwards.”
“With halls across the country packed with hungry buyers, all-in-all it’s still a great time to be taking advantage of the strong market to use auction to dispose of unwanted part-exchange vehicles.”