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August fleet values down year-on-year
Date: 21 September 2010
Fleet values in August lagged behind last year as economic pressures continued to affect the market, according to the two leading auction houses.
Manheim's latest Market Analysis for Cars reported a 13.5% year-on-year slump in fleet values last month. The equates to a drop of £900 per car although Manheim said average age had risen by two months over the period while mileage had increased by 3,166 miles. Month-on-month values were down for the fifth time this year with a 2.3% (£134) fall between July and August to £5791.
Mike Pilkington, managing director Manheim Remarketing, said: "With additional economic pressures to run fleet vehicles on longer contracts, it is inevitable that older vehicles with higher mileages will come through the auction halls."
However, BCA's latest Pulse report was slightly more upbeat. Although still behind 3.1% year-on-year, BCA said average fleet values rose by 2.15% (£155) to £7335 between July and August.
BCA said volume brand values remained static month-on-month in August at £5422, but budget fleet car values rose 5.4% (£183) to £3542. Premium fleet values increased from £10449 to £10808 - returning to June levels, according to BCA.
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