According to Manheim Auctions’ latest Market Analysis report, average values increased 7.5 per cent in the first three months of the year to £6,643 despite the knock-on effect from the March plate-change pushing up used volumes to record levels.

Manheim claimed this was the highest average selling price recorded since it introduced the quarterly analysis in 2004.

It said the original cost new price of used cars sold at auction also hit a new high of 42.7 per cent.

Manheim said the strong start to the year was more notable because the rise in values was set against “a very buoyant 2006 market which saw none of the traditional dip in used prices at the end of the year”.

Rob Barr, Manheim’s group communications director, said: “The used market was very strong last year against a weaker new car market and it continues to strengthen against improved new sales in Q1 2007.”

Posted: 05|15|07 at 12:18 pm. Filed under: Auction News.