Used prices stable in UK
The latest figures from remarketing company Manheim's Market Analysis show that part-exchange vehicle values have remained stable over the summer, reflecting confident consumer behaviour and a healthy trading period for motor dealers.
The figures show that, month-on-month, the selling price for dealer part-exchanges remained largely unchanged from June to July (rising by just £5 to £3,130). While average mileages of vehicles at auction have remained largely stable over the last year, at the 76,000 mark, the average selling price has increased markedly.
As per wider market trends, the figures also show a remarkable increase in the value of part exchange vehicles of 15% year-on-year, from £2,703 to £3,130, displaying an overall continuation of consumer confidence.
Daren Wiseman (photo), valuation services manager at Manheim Auctions, comments: “The results for part-exchange vehicle values are typical for this time of year, remaining steady without much fluctuation. With the second registration plate change of the year on the horizon, we expect to see more activity through the following months, with more used vehicle stock and buyers in the auction halls”.
Three of the ten categories that were analysed by Manheim showed an increase in value compared with the previous month; small hatchback, medium family and MPV. These three segments also experienced corresponding, though marginal, falls in mileage.