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Manheim report wholesale prices falling again
publication date: Nov 19, 2008
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author/source: Robin Roberts
Manheim's latest monthly Market Analysis reports that, at £6,002, the average wholesale used car selling price was 4.4pc (£278) down in October compared with September.
This decrease compares with an unexpected 3.5pc (£212) increase in September. Following several months of significant contraction in year-on-year auction volumes, the October Market Analysis also shows that volumes have stabilised following an increase of 4.0pc in September.
In the Fleet sector average month-on-month values fell by 10.0pc (£524) compared with a rise of 3.5pc (£177) in September, while in the Dealer sector average month-on-month values fell by only 1.4pc (£26) compared with a rise of 3.6pc (£62) in the previous month. The Manufacturer sector saw a month-on-month fall of 8.6pc (£928) compared with a rise of 2.4pc (£256) in September.
Examples of the decreases in average wholesale used car selling prices in October include Small Hatchbacks in the Manufacturer sector which fell by 5.2pc (£375) and Large Family vehicles in the Fleet sector which fell by 9.2pc (£389). However, both Small Hatchback and Medium Family vehicles in the Dealer sector actually rose by 6.4pc (£102) and 1.9pc (£30) respectively.
Mike Pilkington, Managing Director, Manheim Auctions & Remarketing said, "Following the unexpected rise in average sales values in September the market is now back in line with trends experienced throughout most of this year.
"However, there is clear evidence that the trend towards smaller, more fuel efficient cars is set to continue with average sales values for Medium Family and Small Hatchback vehicles in the Dealer sector actually increasing in October."
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