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Part-exchange values drop but dealer demand still strong for ex-fleet cars, says Manheim

Motor auction group Manheim reports that ex-fleet cars rose in price in April however dealer part-exchanges suffered a drop in value.

The month-on-month decline in average part-exchange value by £71 to £3,367 was despite stock being younger and having lower mileage than in the previous month.

However April’s result showed part-exchanges were still valued £351 or 11.6% higher than in April 2014. Manheim said such strength, with no discernible difference in age or mileage, could be a sign that demand for part-exchange cars is on the rise.

With ex-fleet cars, the average value for April was £7,518, a 2.7% or £200 rise on March’s result.

Year-on-year the result was up 5.5% or £392.

Daren Wiseman, valuation services manager at Manheim, said used car dealers will feel the impact of record new car registrations in the coming months, and another key value influencer could be the results of the General Election.

Wiseman said there is often buyer reticence in the immediate aftermath of an election.

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