Mixed messages from auction firms
10 June 2011
The two major car auction houses posted contrasting results for used fleet values in May.
Manheim Remarketing reported that, while wholesale values overall fell 3% to £6808 compared to the previous month, fleet values remained stable with an increase of 0.1% (£5) to £6255.
In the fleet sector small hatchbacks were down 1.3% to £4342, medium family cars fell 5% to £5414 and MPVs plummeted 8.8% to £6831.
Better values were achieved by compact executives - up 3.5% to £8667 and 4x4s, which rose 2.1% to £12,884.
BCA reported a fourth consecutive monthly fall in fleet values despite values across the board rising by 2.9% to £5790.
The auctioneer put the decline down to values in the fleet sector peaking early in January of this year and tailing off in the following months.
Values in May fell by less than 1% to £7349 but Cap performance improved by a point to 94.27%.
BCA director Tony Gannon said: "The fleet sector has a particular issue as there are still volumes of older, higher mileage and often poorly presented vehicles clogging the arteries. Many of these have been entered for sale a number of times and are continuing to depreciate the longer they remain unsold."
Follow BusinessCar on TWITTER