The value of ex-fleet vehicles is continuing to rise, according to industry data from Manheim's monthly Market Analysis which reviewed the prices paid for former company cars sold at auction last month. The average selling price of an ex-company car was £6,706 in September, the highest average figure since June. Strong values have remained despite the average age of these vehicles over four years old with mileages topping 61,000. As the current value of ex-fleet cars increased by £202 on August's average price of £6,504, there appears to be a chronic shortage of good quality vehicles at auction. This view is supported by the fact that, when compared to the original new price of vehicles, September saw the average ex-company car achieve a 35 per cent rate, a three per cent year-on-year increase on September 2011. Mike Pilkington, head of strategy at Manheim Remarketing, said: "Our latest data clearly shows that residual values for ex fleet vehicles have remained strong over the last few months. "Our report also shows that cars are moving quickly through the remarketing process; the average number of days in stock has fallen to 15 days for the last two months, compared to an annual average of 18.75. "The big question facing fleet managers is; when will the bubble burst? Certainly, the current state of the market, where supply cannot keep up with demand, is not sustainable. "We expect to see the market return to 'normal' market conditions by the New Year. Clearly fleet managers should not be basing long-term RV predictions on the current performance of the market." The fact ex-fleet vehicles are moving quickly through the remarketing process is due in no small part to efficient services such as our own fleet refurbishment and appraisal techniques here at IT Fleet Automotive. Our complete de-fleet and vehicle remarketing process includes everything from the transport and retrieval of vehicles to the refurbishment and auction of vehicles with a strict emphasis on enhancing residual values. If you would like to discuss your fleet's own needs in greater detail don't hesitate to contact our friendly team today on 01473 313057 or drop us a line using our online enquiry form.
