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Damage to fleet cars is mounting and hitting resale prices
publication date: Dec 22, 2008
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author/source: Robin Roberts
A survey conducted by Manheim DeFleet Services has revealed that nearly two-thirds of fleet vehicles inspected in 2008 were damaged beyond normal ‘fair, wear and tear’. Of those vehicles inspected, more than 90pc had suffered up to £250 worth of damage, 40pc of which could be rectified using cost-effective SMART repairs. This would ensure that, for the purposes of onward remarketing, the negative impact of such damage on residual values can be minimised. Manheim inspects 65,000 fleet vehicles annually and has seen the incidence of damage increase. Of the vehicles inspected nearly half had up to £100 of damage, 45pc had £101 to £250 of damage, 5pc had £251 to £500 of damage and 2pc more than £500 of damage. Most common damage was dents and scratches to bumpers and body panels (58pc) and alloy wheel damage (27pc), all of which can be easily and quickly repaired. More than 20pc of the vehicles inspected had either incomplete or missing documents both of which impact negatively on buyer interest, particularly in a market where buyers have become highly selective. David Mercer, Managing Director, Manheim DeFleet Services said: “There is an increasing need for fleet and leasing companies to monitor the damage to their vehicles and to employ a robust management, inspection and reconditioning policy to maximise the value of their assets. “A regular and thorough inspection process can keep damage under control while the intelligent use of SMART repairs can add value to the used vehicle by up to two and a half times the actual cost of repair.” |
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