(PRBuzz.com) March 23, 2012 -- Average values in the Fleet sector have increased by 1.8% (£113 to £6,270) in February with great results for MPVs, Compact Executives and Medium Family vehicles - that's the finding of the latest Manheim Market Analysis report.
The fleet-average value is the average of the fair market values of all the automobiles in the fleet.
MPVs increased 7.4%; Compact Executives increased 3.6% and Medium Family by 2.9%. Overall average wholesale values are up 0.7% (£46) when compared with the same period last year and up 3.1% (£214 to £7,030) when compared with January. Volumes in the Fleet sector remain stable for most vehicle segments except Compact Executive which has gone from 14% in February 2011 to 10% this year.
Other increases in February in the Fleet sector include Superminis up 1.5% (£66 to £4,335) even though average age had increased by five months to 43 months; Executive vehicles up 1.8% (£183 to £10,299) and Mini MPVs up 2.0% (£91 to £4,686).
"The decline in new car registrations in 2008 and 2009 is now beginning to impact on the volume of three and four year old vehicles coming into the wholesale used car market. We are seeing increased demand for these younger, lower mileage vehicles and as the volumes of these vehicles decrease then we are likely to see those values strengthen," says Daren Wiseman, valuation services general manager, Manheim Auctions.
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