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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

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