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Used fleet values bounce back

Date: 18 October 2010

Average used car values dipped 0.7% to £6736 in September overall due to a change in the model mix in the manufacturer sector, according to Manheim Remarketing.

But values in the fleet sector rose by 2.9% to £5960 - the first increase in four months. Dealer part-exchange values were up by 1.8% to 2219 during the month.

Overall average vehicle age remained static at 95 months but mileage increased by 454 miles to 52,785.

In the fleet sector hatchbacks rose in value by 4.6% to £4180, upper medium models were up 4.4% to £4786 and MPVs leapt 11.9% in value to £6593.

The average age of fleet cars was 49 months in September - six months older than at the beginning of the year. Mileage increased by 7088 miles over the same period.

Year-on-year fleet values in September were down 9.3% (£615).

Mike Pilkington, managing director Manheim Remarketing, said a degree of stability had returned to the market last month.

"The increase in fleet values suggests the return of the traditional autumn uplift and improved buyer confidence."

BCA also said the market was settling back into a seasonal pattern. While overall average used values increased by just 0.5% to £5905 month on month in September, fleet values led the way with a 5.1% rise to £7711 - the largest monthly increase recorded at BCA in 12 months.

In the sub-sectors, volume fleet values were up 5.4%, budget values jumped 19% and prestige values rose by a more modest 2.4%.


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