6:49 am, October 17, 2008
MANHEIM is the latest to report used car prices rose in September.
Its data shows auction prices were up 3.5 per cent up compared to August – the first rise in eight months.
What’s more, after months of contractions, volumes were also up too, by 4 per cent compared with September 2007.
Once again, Manheim’s fleet sector fared best, with a 4.1 per cent rise. The dealer sector month-on-month average was up 3.6 per cent, and the manufacturer sector grew by 2.4 per cent.
No prizes for guessing what’s doing well. Small hatchbacks in the manufacturer sector were up 5.9 per cent, and medium family cars in the dealer sector saw a 2.4 per cent rise. Surprisingly, large family vehicles in the fleet sector were also up, by 2.6 per cent.
Mike Pilkington, MD of Manheim Auctions & Remarketing said: ‘Following the relative stability of August, it is encouraging to see price rises in September.’
He, again, sounded a note of caution, though. ‘With the new car market 21% down and continued macro-economic uncertainty, it would be wrong to draw too many conclusions as to the future.’
