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Manheim: Average used prices up 9.8%

Date: 31 July 2012

Manheim has reported that the average price for its used fleet sector models has increased by 9.8% year-on-year, even though the average age of the vehicles in question has risen by two months.

The auction house reported that overall volumes of all second-hand cars - including fleet, dealer part-exchange and retail - had reduced.

Daren Wiseman, valuation services manager at Manheim, said: "We are now facing the inevitable consequences of the economic climate three or four years ago when market conditions were at their toughest and organisations made the strategic decision to retain their fleets for longer."

Average selling prices in general rose for seven out of 10 vehicle segments, with the biggest increase seen with Mini-MPVs, which saw a 10.1% rise this month. Compact executive models fared the worst from May to June, dropping in value by 4.4%.