Ex-fleet compact executive car values stay strong 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.
Although average selling prices were 3.1% (£216) lower than January, conversion rates improved from 19 days in stock to just 8 days in stock, highlighting stronger buyer demand for quality ex-fleet stock.
Volumes at Manheim’s car auctions were up 29% from February last year, and while year-on-year values also dipped last month, lower value superminis and small hatchbacks made up 37% of auction volumes in February this year, compared to just 25% in 2015.
Mini MPVs performed well both month-on-month and year-on-year, with average selling prices up 9.9% (£473) from January and up 6.4% (£316) from February 2015. Continuing a trend seen last year, ex-fleet MPV values continue to rise year-on-year, with selling prices up 8.1% (£644).
Daren Wiseman, valuation services manager at Manheim, said:
“We have seen very strong sales at Manheim’s auctions at the start of this year, with high conversion rates and significant buyer activity.
“As we enter the plate change period, we expect increasing de-fleet 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 the de-fleet volumes increase and buyers can be more selective about the stock that they acquire.”