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Manheim reports auction values at three-year low

Date: 24 November 2008

Residual values are continuing to slide with auction firm Manheim reporting a three-year low in the price of fleet vehicles being remarketed through its auction halls last month.

The average sale price of £4699 signified a 10% fall on September, and compares with a £6067 average in October 2007.

The vehicles were also an average of one month older than September 2008 and had an extra 500 miles on the clock.

The report compares with rival firm BCA's findings for October, which reported a £133 fall to a fleet average of £5724.