More used car good news
July 8th, 2009 by Richard Aucock
USED car prices rose by an average of 3 percent in June, shows latest evidence from Manheim Auctions.
This is the fifth year-on-year increase in the past six months.
What’s more, it beats the summer slump usually seen at this time of year. Look to individual sectors, and the gains are even greater.
Dealer sector MPVs, for example, shot up by 22.9 percent. Fleet sector 4x4s were up 11.6 percent, with dealer sector 4x4s going up by 10.6 percent.
Indeed, many previous out-of-favour variants saw boosts in nearly every sector. Falls, in contrast, were thin on the ground.
Manheim Auctions MD, Mike Pilkington, said that ‘although we have been anticipating that average values would continue to level off following the strong start to the year, this increase, though surprising in view of the time of year, does reflect the continuing strong activity reported at all of our auction centres throughout the UK.
‘Demand remains strong, with good attendance and bidding activity both in the auction halls and online, which may have delayed the seasonal price reduction expected over the summer months.’
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