Wholesale prices up 34%
January 11th, 2010 by Richard Aucock
USED car wholesale values rose by nearly 35 percent year-on-year reports auction house Manheim.
December 2008 prices were £1770 higher than 12 months ago.
The huge rise came despite values actually falling slightly in December 2009, by a little over 4 percent. It means the average used car wholesale price is £6875.
Manheim MD Mike Pilkington said ‘We are starting 2010 in a stronger position than 12 months ago and, although we will not see the dramatic value rises of January 2009, I expect prices to remain strong during the first quarter.’
Seasonal variations accounted for some of the falls – but, it seems, the inclement weather is also helping to boost prices in certain sectors!
‘Dealer and Manufacturer sectors experienced value falls in line with seasonal expectations while the Fleet sector performed better than predicted due in large part to the increase in values of 4x4s.’
Indeed, 4x4s were one of the few sectors to see price increases during December.
Do the findings of Manheim match your own experience in the car auction halls? Have you seen a similar uplift in prices?
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