Used price fall ‘OK’
June 8th, 2009 by Richard Aucock
USED car prices fell by 0.6 percent in May – but, says auctioneers Manheim, this is nothing to worry about.
It is a decline, but it’s less than the seasonal norm.
What’s more, both fleet and dealer sectors continue to report value increases.
It was the manufacturer sector that was hit, marking a decline of 4.2 percent. But even this wasn’t out of the ordinary.
Mike Pilkington, MD of Manheim Auctions, said the company had ‘been expecting average values to level off following the strong start to the year.
‘The fall in the manufacturer sector has been offset to a large extent by the continued strength of both fleet and dealer sectors.
‘Demand is presently still strong, with good attendance and bidding activity both in the auction halls and online.’
However, he did fire an advance warning, to ensure the market is not spooked in the future: ‘Typically we would we would expect a seasonal price reduction over the summer months.’
We have been warned!
What’s hot
• Large family, fleet: up 9.1%
• Compact executive, dealer: up 9.2%
• Medium family, manufacturer: up 6.9%
What’s not
• Supermini, manufacturer: down 15.4%
• Supermini, fleet sector: down 7.9%
• Compact executive, manufacturer: down 5.5%
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