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Used car values rise, says Manheim

Date: 14 February 2008   |   Author: Tom Webster

Used car values have risen in January according to Manheim Auctions.

Fleet volumes for January 2008 saw a boost of 59% on December 2007, while values were up by an average of 7.9% or £438 per vehicle. This is despite the fact that the average age of a vehicle remained at 41 months, and the average mileage rose by 2500.

However, a spokesman for Manheim said: "It is too early to suggest that the market will experience another year of strong growth in 2008. But the initial signs may suggest that things are not necessarily as bad as reported."

Manheim has also reported a huge increase in the amount of vehicles that were sold via their internet bidding service.

With the ability to bid on sales at all 19 of Manheim's auction sites, nearly 11,000 vehicles were sold to online buyers last year, an increase of 96% over 2006.

A sale in Bristol saw 53% of sales going to online buyers, while the highest price paid over the internet was £58,100 for a Porsche 911.