The average selling prices of part-exchanged 4x4s rose at Manheim’s auctions in February.
Compared to January, values rose by 5.4% (£428), and they were up 6.5% (£515) compared to February 2015.
Average selling prices for part-exchange car stock overall remained stable both month-on-month and year-on-year, with a slightly rise of 0.9% (£31) from January and a slightly drop of 0.7% (£26) compared to the same month last year, when the stock profile was one month younger.
Conversion rates at Manheim’s car auctions in February were strong, with days in stock falling from six days in January to just four days.
Part-exchange compact executive cars performed well compared to February 2015, with average selling prices up 4.0% (£192) and the top performers compared to January were coupes, which saw a rise in average selling prices of 3.4% (£213) and mini MPVs, where values rose by 5.2% (£108).
Daren Wiseman, valuation services manager at Manheim, said: “Our part-exchange sales saw very strong buyer activity in February, with dealers eager to snap up the best stock, which helped to deliver exceptional conversion rates for our vendors.”
“As we enter the plate change period, we expect increasing part-exchange volumes to filter through to our disposal channels towards the end of March beginning of April. We would expect to see some softening of the market as overall auction volumes increase and buyers may be choosier when it comes to acquiring stock.”
> Compact executive cars continued to show strength in the ex-fleet market at Manheim’s auctions in February, with average selling prices up 4.1% (£384) from January and 10.7% (£473) above the same month in 2015.
Although average selling prices were 3.1% (£216) lower than January, conversion rates improved from 19 days in stock to just 8 days in stock, highlighting stronger buyer demand for quality ex-fleet stock.
Volumes at Manheim’s car auctions were up 29% from February last year, and while year-on-year values also dipped last month, lower value superminis and small hatchbacks made up 37% of auction volumes in February this year, compared to just 25% in 2015.
Mini MPVs performed well both month-on-month and year-on-year, with average selling prices up 9.9% (£473) from January and up 6.4% (£316) from February 2015. Continuing a trend seen last year, ex-fleet MPV values continue to rise year-on-year, with selling prices up 8.1% (£644).