Cox Automotive’s retail and wholesale brands saw a year-on-year increase in sold volume throughout June. The firm reports steady values for the month amid a proportional shift in the types of vehicles sold.
Manheim recorded sold volumes down 6% compared to May, despite showing a year-on-year increase of 3.9%. The auctioneer saw a larger proportion of sold vehicles in the £10-15k price bracket compared to June 2016, which boosted the overall average selling price to £6,114, up 5.2% from last year.
Manheim’s ex-fleet market saw sold volumes compared to May, but up 19.9% against June 2016. The average selling price of ex-fleet cars fell 5.4% against June 2016 to £9,697.
Part-exchange volumes were down in June, showing an 8.78% drop from May, and also a 4.5% year-on-year decrease. The average sold price rose by an average of 3.23% from May, making for a steady 7.3% increase against June 2016.
Cox Automotive commented that, “Fluctuations in average sold price and volume this month imply a change in the type of vehicle sold, as opposed to an overall decrease in value.” The group confirmed “little variance” in wholesale prices in the 12-month period to June 2017.
Cox’s retail brand, Motors.co.uk, saw a 7.9% year-on-year increase in average selling price, with the average figure climbing to £13,452 in June, showing only a slight change from May. The group’s online trade auction platform, Dealer Auction, saw a 3.4% increase in the average selling price of vehicles compared to May, up to £4,219.
Cox’s wholesale stock funding business, NextGear Capital, remained fairly stable, with a slight drop of 0.5% in the number of sales funded. This came alongside a 2.1% increase in the average unit cost, which rose to £6,850 this month.
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