9:23 am, July 17, 2008
CAR sales in one area are holding steady in the tough market – those of fuel-efficient vehicles.
In a market where overall average prices are down, those of economical superminis actually rose by 4.2 per cent between May and June.
Analysis by Manheim also found values were also up by 3.1 per cent compared with June 2007. That represents an average increase of £106.
This compares with dramatic falls in the 4×4 sector. ‘Soft-roader’ models were down by 7 per cent – and large off-roaders were hit with a shocking 13.9 per cent monthly fall.
Mike Pilkington, managing director, Manheim Auctions & Remarketing said: ‘The tougher market for wholesale used cars first reported in May looks set to continue for some time yet, but we are encouraged by the fact that the conditions do not seem to be affecting all market segments or all sectors.’
‘We mustn’t forget that, whatever the economic situation may be over the next couple of months, we could also see the traditional seasonal trends having an influence on market activity and values.’
