Average ex-fleet selling price reaches yearly high

Time 8:00 am, July 12, 2013

072787700_1227085933ACCORDING to Manheim’s Market Analysis report for June 2013, the average selling price of ex-fleet vehicles reached a yearly high of £7,368.

The report shows a dramatic increase in the year-on-year value, which rose by 10 per cent for the period of June 2012 to June 2013.

These latest figures reveal that the average value of used cars from the fleet sector rose by £530 during June 2013, which is reflective of a fall of four months in average age and a decrease in average mileage of 1,637 miles.

Manheim says, the high selling price of vehicles achieved in June can be attributed to the lowest figures for the year-to-date in both age, which saw a fall of 48 months, and mileage, which saw a drop of 57,63, of vehicles at auction.

The average selling price increased for nine of the ten sectors during June 2013 and this was most noticeable with executive models, which rose by £1,197 and Compact Executive models, which increased by £1,066.

Valuation services manager at Manheim Auctions, Daren Wiseman said: ‘The headline figure of £7,368 has been strengthened by a reduction in age and mileage of cars coming to auction. It is also really interesting to see that the average age of de-fleeted vehicles has returned to 48 months for the first time since August 2011.’

Wiseman added: ‘Over the three years prior to this we saw ages fluctuate between 36 and 48 months, which is the traditional cycle for vehicles. However, since then the number has edged upwards. It will be interesting to see over the coming months if this return to the traditional age is a sign that business confidence is returning to UK Plc and, as such, the fleet and leasing cycle is returning to normal.’

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