Part-exchange values increase year-on-year in all vehicle segments
Average part-exchange values were up 1.7% (£58) month-on-month in August, and were 9.4% (£307) above the same period in 2014, according to Manheim’s monthly sales data. The average part-exchanged car had 803 fewer miles on the clock than the previous month, and 1,950 fewer miles than August 2014.
Year-on-year, values were up across the board, in all vehicle segments. The top five increases in average selling price compared to August 2014 were in the executive (22.1%), MPV (16.3%), 4x4 (15.2%), coupe (14.4%) and compact executive (9.9%) segments.Key monthly performers were vehicles in the large family segment, with values up 11.1% (£262) and mini MPVs, with values up 9.6% (£208), compared to July. The average selling price for 4x4s was up 5% (£335), largely due to reduced stock age of 100 months – down 3 months on July – and medium family car prices were also up 3.1% (£97) in August.
Days in stock fell for executive cars, MPVs, mini MPVs and 4x4s, highlighting increased demand. Medium family cars and small hatchbacks each made up 27% of August’s part-exchange sales volume, while large family cars made up 8%, down from 10% in the same sales period in 2014.
Daren Wiseman, valuation services manager at Manheim, commented: “Despite some talking down of the used vehicle market at the end of July, we saw a strong month of sales in August, with values trending positively. We may see lower growth in values as volumes increase over the next four to six weeks as expected.
Further to breaking our monthly sales figure in July – for the third time this year – the increase in year-on-year values in all vehicle segments highlights the quality of our part-exchange stock and the increasing demand from buyers.
