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Defleeted car values hit second highest in 12 months

Image of John Simpson
Author: | Updated: 17 Apr 2014 11:28

Average values of ex-company cars climbed to £7,791 in March, £1,076 more than in the same month last year and the second highest in the last 12 months.

Data, based on final bids for defleeted cars at Manheim auctions, shows that the average age of former fleet cars dropped one month to 51 months, while average mileages dropped from a 12 month high of 61,515 in February to a more moderate 58,838.

Daren Wiseman, Valuation Services Manager at Manheim Auctions [pictured], put the dramatic rise in average values down to “an increase in market volume generated by good quality, late year, low mileage de-fleeted company cars”.

Daren Wiseman, valuation services manager at Manheim Auctions

He added: “The seasonal influx in part-exchanges following the recent plate change has had a positive impact on the average selling price.

“However, we are predicting a significant rise in the average monthly supply of vehicles coming to auction during April. In fact, we have seen an increase of around 25% in the number of vehicles coming through the auction centres over the past couple of weeks.

“This increase in vehicles coming to auction could see values soften slightly as we move into the summer, although due to the continued pent-up demand for retail-ready cars I would expect selling prices to remain strong over the next couple of months at least.”

Manheim Auction data - March 2014

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