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RemarketingUsed car values fall for fourth consecutive monthBy Gareth RobertsFollowing a fourth successive month of decreases, average wholesale used car values are now close to December 2010 levels, according to Manheim Remarketing's latest market analysis.In July, overall average values fell by 0.8% (£52) to £6,588, just £19 above the £6,569 reported in December last year. The fleet sector fell by 3.2% (£195) to £5,905, dealer part-exchange values fell by 0.9% (£21) to £2,306 while manufacturer stock values increased by 2.1% (£237) to £11,516.Mike Pilkington, managing director, Manheim Remarketing, said: "As predicted, pressure on values was much in evidence throughout July, the main contributing factors being a combination of weakened retail demand and the beginning of the holiday season."Following four successive months of decreases, average values are now just £19 higher than in December last year so there are plenty of cars at bargain prices."Notable examples of decreases in average values in the fleet sector in July include: medium family down 1.7% (£95) to £5,404; large family down 4.8% (£231) to £4,626; compact executive down 2.1% (£168) to £7,816; mini-MPVs down 3.4% (£162) to £4,638; and 4x4s down 7.3% (£877) to £11,055.Examples of increases in average values for the fleet sector in July include superminis up 3.8% (£145) to £3,907 and small hatchbacks up 4.2% (£179) to £4,455.BCA has released data on used car market performance at the half-year point that shows the used car markets are relatively steady.JulAugSepOctNovDecJanFebMarAprMayJunJulJulAugSepOctNovDecJanFebMarAprMayJunJul5,9255,7915,9606,0366,1365,7416,1246,3946,4446,256,2556,1005,90555,44957,03059,28258,43160,15661,30560,36461,30561,26760,06359,71761,09260,924JulAugSepOctNovDecJanFebMarAprMayJnJulJulAugSepOctNovDecJanFebMarAprMayJunJul5,9255,7915,9606,0366,1365,7416,1246,3946,4446,2506,2556,1005,90555,44957,03059,2825,43160,15661,30560,36461,30561,26760,06359,71761,09260,924Selling price (£) of fleet cars - ManheimAverage mileage of defleeted cars - ManheimAverage fleet car values fell by 3.2% in July to £5,905 - the lowest since December 2010The average mileage has fallen by 170 to 60,294 in July after a slight rise in June

NewsinsightFleetprofileSales figuresRemarketing analysisCar RecruitmentreviewsManufacturernewsNews digest"Pressure on values was very much in evidence throughout July"Mike Pilkington, Manheim It follows the latest SMMT new car forecast - revised in July - that suggests a 5% decrease in new car volumes year-on-year, underlining some of the difficulties associated with the post- scrappage marketplace.Despite this, BCA's half-year data suggests that average prices across all used car sectors have been stable for the past 18 months. Values for fleet cars were actually higher in the first half of 2011 than those recorded when the market was accelerating in 2009 (see graph above).The Vehicle Remarketing Association (VRA) said that overall prices have returned to the seasonal norm.In its remarketing update for July and August, it also highlights how used models of those new cars suffering from long lead times will be particularly attractive. It says: "These long lead times for certain manufacturers are still causing big issues for fleets in particular, but it looks as though many of the outstanding orders that have been in the supply pipeline for some months will be met by quarter four. "This should free up a reasonable supply of ex-fleet cars into the used market, albeit the majority of this stock will be four to five years old with higher mile-ages and may not necessarily be what used car buyers are really looking for."However, large fleet vendors will need to decide whether to sell these returning company cars prior to Christmas, or perhaps wait for a price uplift in January, the likelihood of the latter being very diffi-cult to predict. "Based on fleet extensions since the recession started in 2009, leasing companies are saying that four year/80,000 mile replacement cycles will now become the norm rather than the exception."It's a theme BCA highlights in its half year report with the average mileage of a fleet and lease vehicle breaking the 49,000 mile barrier for the first time. Average mileage of fleet stock at Manheim in July was 60,924 (see graph, left).BCA reports: "There appears to be a general move towards cars being older and higher mileage when they are sold in the wholesale arena. "This would suggest whoever owns and operates a car - motorist, commercial organisation, leasing company - they are keeping it and using it for a longer period before it is sold."5,0006,0007,0008,000£6,557£5,702£6,575£7,433£7,500£7,340£7,444Average value (£)H1 08H2 08H1 09H2 09H1 10H2 10H1 11Average value of fleet cars - BCABCA's half-year data shows that values for fleet cars were higher in the first half of 2011 than when the market was accelerating in 2009