Demand for 'retail-ready' de-fleeted cars is still strong, according to Manheim's latest Market Analysis of the wholesale vehicle market.
The market remained steady during May, with values falling by just £8, or 0.01%, with no change in the average age at 52 months. However, the average vehicle mileage fell by 413 miles.
According to Manheim's latest Market Analysis, May figures reported a 3.1% increase in the average value of vehicles year-on-year and there have been a number of impressive individual niche performances during the same period.
Executive models showed a 17.8% growth and 4x4s an extraordinary 23.9% growth increase in the past 12 months.
Manheim's unique monthly measure expresses today's auction prices as a percentage of their original retail price and it showed a slight dip in values since April.
However, at £6,838, the average selling price was £204 higher in comparison with May 2012. Selling price rose for five of the eleven market segments, most notably with 4x4 models, which saw average prices reach £14,109, up £1,700. This is a reflection of the fall in both the age of six months and a fall in the average mileage of 6,012 miles.
Daren Wiseman, valuation services manager at Manheim, said: "The likelihood of fewer cars coming off-fleet, coupled with the slowdown in consumer demand for new vehicles, has had an impact on the supply of quality second hand cars at auction.
"This has in turn supported the continuing trend for used values to remain fairly stable despite the increase in the average mileage of cars.
"Manheim's May market report confirms that average ex-fleet car mileages have increased by 413 miles since April. Looking forward, fleet managers must ensure that the remarketing supply chain is as efficient as possible. Getting cars retail-ready quickly and cost effectively will help to realise best wholesale values are reached at auction."