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Manheim and BCA: Used company car values rise again

Date: 19 October 2012   |   Author: Jack Carfrae

Manheim's Mike Pilkington expects values for used company cars to return to normal by the new year

Auction firm Manheim has reported yet another rise in the prices of ex-company cars sold at auction.

The firm recorded an average price per vehicle sold of £6706 in September, despite the average age of such vehicles topping 50 months and 61,000 miles.

Rival auction house BCA reported similar strength with average values for ex-fleet and lease vehicles in September at £8339, marking a £185 increase over August and the fifth consecutive month that a record price has been set for the sector.

Manheim's head of strategy, Mike Pilkington, said: "The big question facing fleet managers is, when will the bubble burst?

"Certainly, the current state of the market, where supply cannot keep up with demand, is not sustainable. We expect to see the market return to 'normal' conditions by the new year.

"Clearly fleet managers should not be basing long-term RV predictions on the current performance of the market."

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