12:12 pm, January 6, 2011
2010 saw wholesale used car values fall by more than 4 per cent, latest figures from Manheim Remarketing reveal.
The firm’s ‘Market Analysis for Cars’ reveals that values fell by 4.4 per cent when compared to 2009.
Average age increased by three months to 51 months, average mileage rose by 4,009 to 53,605, and dealer part exchange prices rose by 5.5 per cent.
However the fleet sector was worse affected – average values fell by 7.2 per cent.
After two months of increases, December saw average wholesale used car values fall by 4.1 per cent to £6,569. Unsurprisingly, the only sector to buck the trend was 4x4s.
Manheim Remarketing’s managing director, Mike Pilkington, said: ‘After a dramatic rebound in values during 2009, it was perhaps inevitable that with the continued economic uncertainty there would be a fall in values in 2010 and a return to more traditional patterns of price seasonality.
‘The poor weather provided an additional challenge in December but the availability of our online buying channels helped keep the market moving with record sales for us online in the month. The inclement weather at the start and end of 2010 has certainly boosted 4×4 values across all wholesale sectors despite record fuel prices.’
