AVERAGE wholesale used car values fell by more than four per cent in 2010 says Manheim Remarketing.
Their latest market analysis for cars reports that overall average wholesale used car values fell by 4.4 per cent (£306) in 2010 compared with 2009, average age increased by three months to 51 months and average mileage rose by 4,009 to 53,605 miles.
The fleet sector suffered worse though – average values fell by 7.2 per cent (£443) with manufacturer stock down by just 1.1 per cent (£126).
However, dealer part exchange prices actually rose by 5.5 per cent (£118).
Meanwhile December saw a similar trend as average wholesale used car values fell 4.1 per cent (£283) to £6,569 following two months of increases. Average fleet values fell by 6.4 per cent (£395) to £5,741, and manufacturer stock fell by 2.1 per cent (£260) to £11,830.
Dealer part exchange prices remained largely stable with an overall fall of just 0.3 per cent (£7) to £2,268.
Dealer part exchange prices for small hatchbacks fell by 4.2 per cent, executives were down 2.6 per cent and Mini MPVs down 2.2 per cent. Manufacturer stock values for superminis fell by 4.6 per cent, small hatchbacks down 5.4 per cent and Mini MPVs down 11.5 per cent.
Fleet saw small hatchbacks down 2.1 per cent, medium family vehicles down 6.1 per cent, large family down 11.5 per cent, compact executives down 4.4 per cent and Mini MPVs down 5.9 per cent.
Superminis, large family and 4x4s all rose in the dealer part exchange sector – rising 7.8 per cent, 3.2 per cent and 9.6 per cent respectively. Meanwhile the only increase in average values in the fleet sector was for executives – up 3 per cent – and large family, executives and 4x4s were all up in the manufacturer sector – 3.6 per cent, 10.9 per cent and 5.3 per cent respectively.
Mike Pilkington, managing director, Manheim Remarketing 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.’