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Part-exchange car prices strengthen

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Aug 10 2012

The average selling price of part-exchange vehicles rose 4.3% last month when compared to June, figures have shown.

The latest figures from remarketing company Manheim are in stark contrast to gloomy forecasts, with a 7% rise also recorded when July was compared to the same period a year earlier.

Younger cars that have done fewer miles are more prevalent on the part-exchange market now and they are driving up the selling prices, says Manheim.

Nine out of 10 of the vehicle segments rose in average selling prices, with only 4x4s registering a fall on June prices.

Valuation services manager at Manheim Auctions Daren Wiseman said: "At the start of the year, there was a great deal of uncertainty about what impact national events such as the Jubilee, Euro Championships and Olympics would have on dealer forecourt traffic.

"However, the latest market analysis figures seem to show a fairly buoyant market, especially in comparison with the wider retail landscape."

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