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General Motoring News

Car values fall further

16th September 2008

The average selling price of a car at auction fell by 1.7 per cent in August, the latest Manheim's market analysis report has revealed.

The car auction company disclosed that the median value of vehicles fell by £103 in August to £6,068, with the average month-on-month selling price in the majority of vehicle segments decreasing.

However there were some exceptions as the fleet sector saw the average price of a medium family vehicle increase by 2.1 per cent and the off-road sector rise by 1.4 per cent, despite its obvious economic and environmental downfalls.

Mike Pilkington, managing director of Manheim, said: "The August market is traditionally a quieter month for wholesale activity and although there are more positive signs than have been evident in recent months, caution must be exercised in drawing too many conclusions."

Earlier this month, the Motor Cycle Industry Association (MCI) revealed that bike registrations fell by 12 per cent in August, which could have an effect on the number of motorbike insurance policies undertaken. ADNFCR-1602-ID-18782141-ADNFCR