Commercial vehicles sales strong in January
Manheim Auctions reports a very busy start to its light and heavy commercial vehicle sales in January despite challenges faced by buyers due to the inclement weather. In the first three weeks of the year auction halls experienced a 40% increase in physical and online buyer attendances compared with the previous month. Most notably, buyer usage of Simulcast, Manheim Auctions’ live online broadcast of physical auctions, has increased significantly.
Well specified 4×4 double cab vehicles are extremely popular at the moment and attract plenty of bids, especially if condition is commensurate with age and mileage. Late year, low mileage utility fleet stock is keenly fought over and prices achieved are well over guide values with sale prices of Transit 300 panel vans rising by between £500 and £600 during 2010 so far. There has also been a resurgence in demand for Tippers following a period at the end of 2009 when they struggled to attract interest. Demand for this segment linked closely to the fortunes of the housing market. This upturn is subsequently associated with the increasing number of builders and developers who are restarting work on ‘mothballed’ development projects.
Alex Wright, Sales Director, Commercial Vehicles, Manheim Auctions said: “I am very encouraged by the strong start to the year. By the third week of January, with the worst of the snow and ice behind us, market activity noticeably ramped up with further improvements in physical buyer attendances and conversion rates. In truth, had weather permitted, this level of activity would have been expected from the beginning of the year. Wholesale van auction stock remains in short supply, ensuring used values remain strong and, with demand outstripping supply, van retailers are currently left with little choice other than to widen their offering and bid on any stock that they identify as having profit potential.”
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