8:33 pm, May 20, 2015
PART-EXCHANGE values have remained consistent in April as new car registrations soar, according to Manheim’s monthly dealer Market Analysis.
The research also revealed that units sold in April were younger and had less mileage than their March counterparts.
April 2015 values stand at £3,367, which is £351 or 11.6 per cent higher than values in the same month of last year. With no noticable difference between age and mileage across the two years, it could be sign that demand for vehicles in the part-ex sector is on the rise.
Daren Wiseman, valuation services manager at Manheim, commented: ‘While we’ve seen a slight softening of values from month-to-month in April, these figures are still incredibly robust; especially when compared to last year.
‘Many dealers are wondering ‘what next for the sector?’ One thing’s for sure, the supply chain looks incredibly healthy – at least according to the SMMT. A recent report by the SMMT confirms new car registrations in April rose by 5.1 per cent year-on-year. That’s an incredible increase of 6.4 per cent in Q1 of 2015, equating to 920, 366 new cars; the most registered in over a decade’
He added: ‘The dealer sector will almost certainly feel the impact of this up-turn in the coming months and year. Another key value influencer could be the recent results of the General Election. As with most sectors, we tend to see some buyer reticence in the immediate aftermath of an election.
‘My advice to dealers remains largely consistent. Good quality stock commands top tier prices, so make sure units on your forecourt are in tip-top condition. Manheim offers its dealer network the full breadth of its remarketing strategies, so I’d advise dealers make sure they’re using every channel available to them to reach potential customers.’
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