Rise in price of partex vehicles

Rise in price of partex vehicles

Part exchange cars saw an unexpected rise in their average selling price last month, for the first time since March this year.

Figures from Manheim's vehicle auctions show that the average price of a part exchange vehicle last month rose to £2,768. This is an increase of £37 since March, and also an increase of 16.6% over the same month in 2012. The price rise is thought to be because of slight drops in average age and mileage of vehicles sold that month, with average mileage dropping by 1,660 miles, and average age decreasing by just a month.

Year-on-year, the average price of a part exchange vehicle increased from £2,374 to £2,768. This price increase also comes with an increase to the average mileage of such a car, which rose by 317 miles. This goes to show that age is not automatically an indicator of reliability.

Values for other vehicle types also rose in June, with four-by-fours seeing their worth increase by £292 on average, and MPVs increasing their average value by £312. The valuation services manager for Manheim, Daren Wiseman, was quick to say that these figures show a good buoyancy in the market, considering problems elsewhere in the economy.

He also added that they are seeing dealers offering a wider range of used vehicles than before, and this increased choice seems to be attracting more interest and business to the forecourts. However, it looks like the age of a vehicle, as well as how far it has travelled, are both still important factors in the valuation of a vehicle. The supply of used vehicles is still decreasing, so average values of second hand cars is sure to keep rising in the future.

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