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Used car wholesale values increase by 34.7% year-on-year

Average used car wholesale values fell by 4.1% to £6,875 in December compared to the previous month, but are still 34.7% higher than in December 2008.

Manheim Auctions’ latest market analysis for cars also showed average values in the fleet sector rose by 0.7% (£43) to £6,249.

Dealer part exchange values fell by 3.0% (£68) to £2,168 while manufacturer stock fell by 9.2% (£1,219) to £12,016 although this was due in large part to changes in the stock mix.

Mike Pilkington, Manheim Remarketing managing Director, said: “Although average wholesale values fell in December they are still 34.7% (£1,770) higher than 12 months ago.

“The dealer and manufacturer sectors experienced value falls in line with seasonal expectations while the fleet sector performed better than predicted due in large part to the increase in values of 4x4s.

He added: “We are starting 2010 in a stronger position than 12 months ago and, although we will not see the dramatic value rises of January 2009, I expect prices to remain strong during the first quarter.”

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