Record-breaking half year for Manheim Commercial Vehicles
Manheim Commercial Vehicles, the UK’s number one CV auction company, has broken records for vehicles sold, conversion rates and online sales in the first half of the year, which was rounded off by an incredibly strong performance for both LCVs and HGVs in June.
Manheim recorded its largest combined volume of LCV and HGV units sold in a month since the start of 2015, including the highest monthly figure for HGVs sold for the past three years.
Matthew Davock, Head of LCV at Manheim, said: “In June, we saw our highest sold volume for vans in the past 11 months, with 79% of units receiving an online bid and 30% of units ultimately being sold online. The average selling price of vans at our auctions continued to increase, up £20 from May and nearly £140 year-on-year, despite no change in age and mileage.”
The online sales trend seen in June reflects the first half of the year as a whole, which saw 31% of all vans sell to Manheim’s online buyers. The 77% first time conversion rate also reflected the 79% first time conversion rate achieved from January to June.
Manheim’s HGV auctions in June recorded the highest sales volume since 2013, with 91% of all units receiving an online bid and a record-breaking 59% of vehicles selling online. Despite average mileage increasing by more than 10% year-on-year, the average selling price increased by more than £1,200.
The UK’s number one CV auction company recorded a 74% first time conversion rate for its HGV auctions in June and smashed its previous half-year record, achieving a first time conversion rate of 72% for the first six months of the year.
James Davis, Director of Commercial Vehicles at Manheim, said: “We have achieved exceptional results for our customers so far this year, and are set to continue to do so for the rest of 2016. We have broken monthly sales records at our Gloucester and Shepshed auction centres and have truly cemented our position as the UK’s number one CV auction company.
“We have an outstanding and committed commercial vehicles team within the business, who are all focused on delivering the highest levels of performance to our vendors and the greatest standards of service to our buyers. We look forward to breaking more records over the next six months!