18 Feb 14

Used car prices continue to rise in UK

Remarketing company Manheim has revealed that resale values in the fleet sector rose to a record high in January. The latest data from the company’s monthly Market Analysis shows that the increase in value reflects a drop in age, falling from 52 months in December 2013 to the current figure of 47 months. On top of the decline in age, average mileages also decreased by 2,939 to 57,023.

January saw selling prices rise in nine of the 10 sectors covered in the report. Most notably, the average selling price of coupe models increased by £2,887 (or 15.9%) during the month, which is partially due to a decrease in the average age from 57 to 53 months. However, the average mileage increase of 8,748, to 56,603 miles, failed to have a negative effect on values. By contrast, the average selling price for MPV models fell by £1,349, to £7,292, which is reflective of an increase of six months in average age and of 10,189 miles, to 54 months and 69,832 miles respectively.

Authored by: Tim Harrup