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Auction houses differ over September values

Date: 16 October 2009

The big two auction firms have reported differing results for September, in terms of used car values from the fleet and leasing sector.

While BCA said the value of cars from the sector sold last month was up 3.5% to an average £7850, Manheim said its figures showed a 2.0% fall to £6550. Both, though, reported growth in the nearly new and dealer part-exchange sectors, which left Manheim with an average £7436 sale price, up 0.6% on August.

BCA also found a greater number of dealer part-exchange cars coming in and fewer nearly new models, which meant its overall figure was just £6 down on a record August at an average £6217. The company also said the supply of used cars drastically increased last month, the first shift this year, while conversion rates have slipped slightly.

Manheim said its figures show a levelling off in a market that has witnessed rising values all year.

"The first recorded fall in average values in the fleet sector this year and the modest increase in overall values in suggests that the market is inevitably beginning to level off after unprecedented growth this year," said Manheim managing director Mike Pilkington.

The big two auction firms have reported differing results for September, in terms of used car values from the fleet and leasing sector.

While BCA said the value of cars from the sector sold last month was up 3.5% to an average £7850, Manheim said its figures showed a 2.0% fall to £6550. Both, though, reported growth in the nearly new and dealer part-exchange sectors, which left Manheim with an average £7436 sale price, up 0.6% on August.

BCA also found a greater number of dealer part-exchange cars coming in and fewer nearly new models, which meant its overall figure was just £6 down on a record August at an average £6217. The company also said the supply of used cars drastically increased last month, the first shift this year, while conversion rates have slipped slightly.

Manheim said its figures show a levelling off in a market that has witnessed rising values all year.

"The first recorded fall in average values in the fleet sector this year and the modest increase in overall values in suggests that the market is inevitably beginning to level off after unprecedented growth this year," said Manheim managing director Mike Pilkington.

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