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Monday 29 May 2017

Used van auction volumes continue to rise

Manheim RemarketingNovember 2015 saw the number of light commercial vehicles passing through Manheim Remarketing’s auction halls rise for the eighth consecutive month. Average selling prices remaining virtually identical (£4,553) to the same month in 2014 (£4,552), despite an 11 per cent increase in volume.

Conversion rates reached the highest levels for the year with vans staying in Manheim’s auction network for an average of just 15 days. Selling prices softened slightly compared to October, down by 4.1 per cent (£197), a result of an increase in volume of lower price product in the car-derived and small panel van sectors.

Compared to 2014, large panel van volume was younger and attracted higher selling prices; up 2.4 per cent for vehicles under 3.0t, which were five months younger and up 2.5 per cent above 3.0t, which were two months younger.

“From the rostrum, November felt like a very strong month in our auctions and the figures support that feeling,” said Matthew Davock, head of LCV at Manheim. “Our vendors saw fantastic conversion rates and there was plenty of activity both in-lane and online.
 
“We continue to see an increase in volume from the daily rental market, with November volumes of small panel vans, large panel vans under  three tonnes and tippers all up compared to the previous year. As vendors prepare for Q1 2016, Manheim expects the market to remain stable during December, before a more significant increase in buying activity in Q1 as SMEs and sole traders in particular seek to invest profits before the end of the financial year.”

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