Manheim figures show continued growth in defleet sector
The latest figures from global vehicle remarketing business Manheim's monthly Market Analysis show relative calm in the defleet sector in the UK, with prices falling just £14 (0.2%) between July and August 2014. This follows a marginal fall of £103 in the previous month.
Average age and mileage also remain relatively consistent, with an increase of just 136 miles (from 60,011 to 60,147) month-on-month, while defleet vehicles were, on average, one month younger in August at 51 months.
The picture for the year-on-year figures also remains steady, with a 4.6% growth in values between August 2013 and August 2014 (£6,939 to £7,260) following on from a 4% growth in July. Reflective of overall consumer confidence and the rising GDP, the increased selling prices in 2014 show how the economy has moved on over the past 12 months.
Valuation services manager at Manheim Auctions, Daren Wiseman, comments: “While values have continued to fall marginally over the typically quieter summer months, the bigger picture has been positive. Indeed, average values of defleet stock have been higher this year than in 2013, despite a corresponding increase in both age and mileage. However, with another record-breaking plate change on the horizon, the market does need to take caution. The flood of defleet stock into the marketplace over the past three years, coupled with the looming interest rate rise and the influx of good quality part-ex stock that will be available after this month, means that fleet vendors will need to align their expectations with market conditions”.