used car sales have been progressively falling by 2.5 per cent to £6,640 in June, according to research by Manheim Remarketing.

In their latest Study they found that car sales had fallen for the third consecutive month.

The fleet sector fell by 2.5 per cent (£155) to £6,100, while manufacturer stock values fell by 3.0 per cent (£346) to £11,279. Dealer part-exchange values increased slightly by 0.9 per cent (£21) to £2,327. When compared with June 2010, with average age up by just one month to 52 months and mileage up by 3,265 miles to 54,161 miles, average wholesale used car values are 4.8 per cent (£338) lower.

Dealer part-exchange values increased by 0.9 per cent to £2,327. When compared with June 2010, with average age up by just one month to 52 months and mileage up by 3,265 miles to 54,161 miles, average wholesale used car values are 4.8 per cent lower.

Earlier this month Glass’s Guide reduced its used car prices for July by up to 6 per cent

Mike Pilkington, managing director, Manheim Remarketing said: “Pressure on values and conversion rates continued during June. This pressure is a culmination of sporadic retail demand driven by increasing  economic uncertainty combined with healthy supply.

“This limited retail demand appears to be set to continue through the forthcoming summer break and we anticipate further pressure on values. Buyers are still out in numbers but they are increasingly looking to cherry pick the best vehicles to replenish stocking levels.

Taken from Motor Trader Daily News