13^th April 2010

2010 Van values up nearly 15%, reports Manheim

Manheim Remarketing’s latest monthly Market Analysis for Vans reports that at £4,237, average wholesale used van prices have increased by 14.7% since the beginning of the year. The rise in average values in the equivalent first three months of 2009 was 11.3%. The increase in the month of March 2010 of 5.6% (£224) follows a rise of 4.4% (£169) in February and is the ninth month in a row that values have improved. Average values have now increased in all but two of the last fourteen months. Compared with March 2009 average wholesale used van prices are actually up by a staggering 47.5% (£1,365) with the same average age of 54 months and average mileage 3,544 miles higher at 74,202.

Notable examples of the increases in average month-on-month values in March include Large Panel Vans less than 3.0t up by 4.4% (£168 to £3,943), Large Panel Vans greater than 3.0t up by 2.5% (£104 to £4,234), Buses up by 10.1% (£510 to £5,543) and 4x4s up by 9.3% (£633 to £7,454). At 54 months, average age in March was static when compared with February while average mileage was higher by 306 miles at 74,202.

James Davis, General Manager, Commercial Vehicles, Manheim Auctions said: “There seems to be no end to the continued increase in wholesale values at the moment and certainly no evidence yet of the traditional seasonal softening of the market. Demand remains very strong while the relative lack of supply continues to affect values. The imminent General Election may create some market uncertainty during April but the overall upward trend in values looks likely to continue in the medium term.”

ends

About Manheim

Manheim is the world’s largest automotive services company and, through its unparalleled range of products and services, drives every stage of the used vehicle lifecycle. Officially voted Britain’s Best Remarketing company for the last 4 years, Manheim handles nearly 10 million used vehicles worldwide, facilitating transactions representing nearly $59 billion in value. Manheim is a subsidiary of Atlanta-based Cox Enterprises Inc., one of the world’s leading media companies and providers of automotive services. Throughout the world Manheim has over 130 remarketing operations in five Continents, including 38 European locations. In the UK, there are 3 business divisions:

Manheim Remarketing: providing a national physical auction network, comprising 19 centres of which 7 have dedicated commercial vehicle activities; a dedicated trade-only direct sales channel; 3 online bidding /sales channels. It includes the brands of Manheim Auctions and vrs.

Manheim DeFleet Services: providing vehicle inspection; asset management and recovery service; SMART repair, reconditioning and pre-sale preparation; transport; logistics; full defleet management and outsourced end-of-contract administration. It includes the brands of Manheim SMART Repair, Manheim Inspection Services and Manheim Asset Management.

Manheim Retail Services: providing retail marketing support including dealer websites, used car stock locators, professional vehicle photography, showroom systems, sales lead management software and innovative aftersales customer contact systems. It includes the brands of Manheim Retail Marketing (formerly Portfolio), Manheim Lead Management (formerly e-GoodManners) and Manheim Aftersales Solutions (formerly RTC) and Carmony.co.uk..

For further information, please contact:

Andrew Andersz

JJ (for Manheim)

Tel: +44 (0)1865 343100

Email: andrew.andersz@thejjgroup.com

Website : www.manheim.co.uk