Used values reach summer highs
11 August 2009
Author: Tom Webster
Used car values have risen by 4% or £277 in July to £7203 - £1071 higher than this time last year according to auction house Manheim. July is the sixth month in a row to see a rise in average values, and sees increases in the fleet, dealer and manufacturer markets.
Cars being sold from fleets saw a more modest average rise, with prices increasing by 1.2% or £77 over June's figures. This rise was kept in check by falls in the average selling prices of premium upper medium models and off roaders from the fleet market - their values dropped by 2.8% and 7.0% respectively.
However, the supermini, lower medium and upper medium groups rose by a combined 2.7% in the fleet sector. They now sell for an average of £3884.
"Unexpected though it is for this time of year, the market continues to go from strength to strength and does reflect the high levels of activity reported at all of our auction centres throughout the UK," said Mike Pilkington, Manheim's managing director.