Weekly vans update with Matthew Davock - 10th August 2015
The Commercial market shows big signs of improvement as stock levels reduce.
After returning from my summer jollies I’ve heard from buyers and seen first-hand from the rostrums that the van market has improved in many areas. I won’t take that personally! Not that it was all doom and gloom before I left, but the conversion and performance results have been there to see during the week.
July was a record month for Manheim CV - we sold 45% more vans than in July 2014! July 2015 saw an increase in average selling price and conversion rates compared to June 2015. Overall we all enjoyed a strong month considering the toughening market place witnessed in the 6 weeks prior.
One of our key focus areas at the start of 2015 was buyer relationships following our re-focus and re-structure. Since then our Buyer Service Managers and support teams have been applying significant focus. I believe all the hard work is paying off; especially considering we’re in full seasonality with the toughest few weeks of the year. I believe our renewed focus has played a great part in delivering our July results. As confirmed in my recent blogs, many buyers have been, or will be, on holiday. 26% of all vans we offered sold online during July - our buyers are increasingly buttoning vans off from beaches and bars!
We’ve witnessed steady physical buyer foot-fall but online buyer click-fall has increased over the previous week. We’ve kicked off our Transit 50th Birthday charity special themed sales and what a great week we’ve had. Whilst I wasn’t around in 1965 this week has transported us all back…having fun in all our auction centres. Next week we’ll continue; undertaking a variety of themed sales to engage vendors and buyers alike! From 60’s fancy dress to The Beatles theme to Great Manheim Bake off. At Haydock we’re auctioning off a 2010 Transit 330 donated by Hitachi Capital Commercial Vehicles. At Colchester we’ve a unique display of classic vans plus some unique charity lots. Please click here for James Davis’s blog outlining this special event.
The majority of buyers are reporting steady retail activity for August and the phones have been ringing which is a good improvement on previous weeks. The general consensus is they are working for smaller margins to get the deals done and many have reported this activity has been more on car derived vans; these being easy replaced when needed.
I believe we need to remain mindful of duplication and heavy damage, taking this into account remains high priority for conversion results.
Ford Connect LWB
Ford Transit 260/280 SWB
Nissan Navara and Toyota Hilux 3 Litre models
Tippers and Dropsides
Ford Transit 350 15 Seater Buses
What’s Not So Hot - against CAP
Renault Traffic SL and LL models
Vauxhall Vivaro SL and LL models
Transit 350 LWB
Citroen Berlingo 2 seaters
Ford Transit 350 17 Seater Buses
Clean condition and reasonable mileage remains key. To conclude we just need to keep pricing the damaged stock correctly. By saying the words, “On Sale” at the earliest opportunity vendors gain the attention and engagement of the country’s top van buyers.
Thank you again for your much valued business and continued support. The forthcoming week will see over 1,500 vans on offer. Please do try to get along to one of our special themed sales; join us in celebrating the iconic Ford Transit’s 50th Birthday!
Tune in every week to see how we’ve performed. Until then, keep ‘Sharing the CV Love’.