HGVs lined up

The sun always shines at Manheim HGV

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HGVs lined up

It’s true. Every auction so far at our fabulous new HGV centre at Manheim Bruntingthorpe has been bathed in sunshine. And the golden glow from the sky has been mirrored in the auction hall by some truly red-hot results for our buyers and vendors.

July is typically the month where the holiday season kicks in. When buyers and vendors have their minds on sunnier climbs, auction volumes and footfall tend to fall. The market reflects this with many reporting a slowdown in trade.

Whilst we have certainly seen some of these factors influence our auctions throughout the month, we’re still tracking an average 72% first-time conversion rate across our sales - up just slightly on last month. 

Interestingly, and perhaps bucking the usual trend, just 32% have sold to online bidders, a decrease of 6% on June’s figures. Footfall through the doors has remained largely the same but the physical buyers have been more successful than before. Perhaps those making the journey to see the trucks in the flesh are making sure their trip is worthwhile and bidding more strongly than those the other side of the screen.

We’ve seen over a dozen new vendors debuting at Bruntingthorpe throughout July with some excellent results amongst them, our portfolio of quality vendors with stock to match continues to grow.

Our satellite HGV sites at Colchester, Gloucester, Washington and Shotts have played their part. Also our virtual auction facility, taking place on every regular auction day in conjunction with our physical auction, has seen some superb results. Vendors with stock at these sites are taking full advantage of the reduced movement costs and have reaped the rewards.

So what’s HOT ?
•  Late 7.5 tonne tippers continue to be the most sought-after product at auction and there remain very few of them around. Buyers paying absolute top money even for examples dating back to 2012/13.
•  Early Euro 6 or Euro 6 compliant trucks continue to make strong money. As last month, these look very good value and continue to be the top of many shopping lists.
•  Japanese product is seeing a well-deserved uplift in demand. They look such good value for money when compared to the European brands and buyers are sensing this.
•  Export is back! Well, sort of. There are definite signs of increased activity in this sector - older refuse trucks, 7.5 tonne curtains and boxes and mid-age 18 tonne chassis are back in favour.

And what’s NOT ?
•  Semi-trailers have taken a drop this month with buyers pickier than ever in regular curtain and box formats.
•  High mileage vehicles are proving difficult to find a new home for, even if they’re Euro 6, or sold at what might seem a very good price. Buyers just avoiding it in some cases.
•  Refuse trucks, circa 2010-2014. These have become tougher to sell particularly at this age range where they’re too young for export but too old for domestic use. In both cases, spec is everything and even if 9/10 things are right, it’s the important final factor that can make all the difference.

And so, as we look ahead to next month I expect to see more of the same in the HGV market. We’ll endeavour to work closely with both buyers and vendors to engage one with the other, keeping the buyers hungry for stock and providing as much quality, well priced stock for them to go to work with.

Happy summertime all.

Chris Mynott

Chris Mynott, National HGV Manager

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