Business as usual for part exchange market
By Kyle Lindsay
Monday, August 18, 2014 - 13:17
Come as you are, as you were
Latest figures from Manheim’s Market Analysis show that part-exchange vehicle values 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 to £3,130). While average mileages of vehicles at auction have remained largely stable over the last year, at the 76,000 mark.
Daren Wiseman, 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 falls in mileage, albeit marginal.
Wiseman concludes: “We are more than comfortable with the results we are seeing for July. Looking at the annual trading pattern, we are following a recognisable seasonal trend, with significantly higher values than previous years. We expect to see this pattern continue throughout the final part of 2014, with slightly higher values than last year providing for sustainable growth in the market.”