Commercial vehicle supply softens and performance hits 2016 high at Manheim
Manheim, the UK’s number one commercial vehicle auction company, recorded robust performance at its commercial vehicle auctions in July, with performance against guide increasing by 1.8% to its highest level seen all year.
While prices were relatively flat compared to June, Manheim was able to counter some drops in guide values for its customers – despite the vans being an average of one month older and having an average of 1,000 more miles on the clock.
Year-on-year performance at Manheim’s commercial vehicle auctions is still very strong, with buyers out in force in a healthy marketplace. Compared to the same month in 2015, vans sold for an average of £175 more this year, taking three fewer days to sell.
Matthew Davock, Head of LCV at Manheim, said: “We are continuing our record first half of the year into the second half, and are witnessing a very healthy and consistent marketplace. Our online success is ongoing, with one in three vans being sold to an online buyer.
“Our buyers are feeding back that they saw stronger sales performance in July compared to June, with higher footfall from their customer base. While our own physical footfall was slightly down – in line with expectations for July – our online footfall, joining sales via Simulcast, was 3% up on June’s figure.
Manheim expects that August’s marketing place will be similar to Julys, particularly in relation to de-fleet activity and buyers choice. Our commitment to focusing on supporting our CV buyer base will position us to maintain and increase the overall demand, further driving our customers performance during a month which historically proves challenging.”