Weekly vans update with Matthew Davock - 22nd September 2015
Catalogue entries in September are the lowest seen all year. Many vendors’ de-fleet numbers are up to half the level seen in previous months.
As we are midway through September we have seen catalogue numbers reduce and the last week has been no different. Stock levels are at the lowest point all year…. but speaking to many vendors quarter 4 is reported to be a busy one for contract returns…
The week saw healthy buyer attendances - both physically and online – with demand firmly focused on the 30-60,000 mileage stock, which is around, but in very small numbers.
As a result vans that are in clean condition and fit between these mileage bands are making premium money, 128-150% of their guide values.
Buyer feedback continues to state that retail activity remains slow. Many buyers are waiting for the phones to start ringing off the hook. Some report retail sales numbers are up to 40% lower than 2014. Some report record stock levels and playing the waiting game with their fingers crossed.
What’s hot this week
What models have struggled against the guide this week
HIGHEST guide performance of the week
As an auctioneer it is extremely noticeable that vans with high specification are still the driving force around the buyers’ bidding activity. Air conditioning and satellite navigation seem to be the real bid pullers and, when combined with metallic paint, is definitely number one in terms of priority.
I have witnessed first-hand how important the rostrum decision making process currently is for all vendor rostrum managers. It has been key to get vans on sale at the earliest opportunity. A large selection of online buyers wait for their “On Sale” Simulcast green light to illuminate on their screens before they get involved bidding. The vendors that adopt this approach, working with our market making auctioneers, are seeing great success and industry leading conversions rates and sales results.
So, to conclude, the market remains healthy. We have seen a decrease in catalogue numbers with most vendors sections containing half the volumes seen in previous months. When retail switches on there will be a severe shortage of stock to meet the pent up demand.
Thank you again for your much valued business and continued support. Tune in every week to see how we’ve performed. Until then, keep ‘Sharing the CV Love’.