A shift in the selling price of used cars helped average used values to rise 5.2% in June within Cox Automotive’s wholesale and retail businesses.
Manheim car auction centres recorded an average mileage of 60,077 for vehicles sold during June, a figure similar to last month, but down 5.3% from June 2016 as sold volumes dipped 6% compared to the previous month, despite showing a year-on-year increase of 3.9%.
But a larger proportion of sold vehicles in the £10,000 to 15,000, compared to June 2016, was credited with bringing the overall average selling price to £6,114 – up 5.2% from last year.
In the ex-fleet market, Manheim reported that volumes had fallen slightly since May, despite maintaining a year-on-year growth of 19.9%.
The average selling price of ex-fleet cars fell slightly following last month’s increase, showing a 5.4% overall decrease from June 2016 to £9,697.
Part-exchange volumes showed an 8.78% drop from May, and a 4.5% year-on-year decrease but the average selling price rose by 3.23%, making for a steady 7.3% increase against June 2016.
In the retail market, Motors.co.uk saw a 7.9% year-on-year increase in average selling price, with the mean figure climbing to £13,452 this month, showing only a slight change from May.
Online trade auction platform specialist, Dealer Auction, experienced a 3.4% increase in the average selling price of vehicles from the previous month, meanwhile, with the figure rising to £4,219.
June also saw 3,003 diesel vehicles sold at 96.6% of the CAP clean price, compared to the 3,125 sold in May at the slightly lower average of 96.2% of the CAP clean.
Units funded by wholesale stock funding business, NextGear Capital, remained fairly stable, with a slight drop of 0.5%.
This came alongside a 2.1% increase in the average unit cost, which rose to £6,850.
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