Cold weather keeps demand for used 4x4s high in February
The average selling prices of part-exchanged 4x4s rose at Manheim’s auctions in February, reflecting the colder weather that has hit the UK since the start of the year. Compared to January, values rose by 5.4% (£428), and they were up 6.5% (£515) compared to February 2015.
Average selling prices for part-exchange car stock overall remained stable both month-on-month and year-on-year, with a slightly rise of 0.9% (£31) from January and a slightly drop of 0.7% (£26) compared to the same month last year, when the stock profile was 1 month younger.
Conversion rates at Manheim’s car auctions in February were strong, with days in stock falling from 6 days in January to just 4 days – an indication of buyer activity seen both in-lane and online, and an indication of Manheim’s buyer loyalty.
Part-exchanged compact executive cars performed well compared to February 2015, with average selling prices up 4.0% (£192) and the top performers compared to January were coupes, which saw a rise in average selling prices of 3.4% (£213) and mini MPVs, where values rose by 5.2% (£108).
Daren Wiseman, valuation services manager at Manheim, said:
“Our part-exchange sales saw very strong buyer activity in February, with dealers eager to snap up the best stock, which helped to deliver exceptional conversion rates for our vendors.”
“As we enter the plate change period, we expect increasing part-exchange volumes to filter through to our disposal channels towards the end of March beginning of April. We would expect to see some softening of the market as overall auction volumes increase and buyers may be choosier when it comes to acquiring stock.”