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The Gavel - 3rd July

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Andy Conde - Cars

Andy Conde on Manheim Rostrum

Now that we have reached the end of yet another month, it’s re-assuring to see the slow but sure market improvements I’ve previously discussed continue

There are so many factors affecting our industry at the moment such as lower levels of retail demand and the political uncertainty caused by Brexit, not to mention the hangover from ‘Diesel-gate’ only just being felt now in the wholesale arena. 

Ultimately, this has led to a reduction in auction volumes, but in turn buyer appetite has increased as competition for the best stock intensifies. 

I’m starting to notice a renewed vigour and energy surrounding the used car industry, as consumer confidence returns. It’s early days, but we are seeing more smaller retailers back in the auctions prepared to compete with the large supermarkets.

Getting the most out of the market

Many dealers had had a rude awakening when it comes to stock control. The recent cap value reductions have led many to realise that their vehicles aren’t worth as much in the current market, having been in stock far too long. Those that have heeded our advice to not re-enter a car, but take the first bid, have seen strong results. 

As always, quality vehicles sell for quality money. Buyers are prepared to pay top dollar for a quick return, so it pays to invest in your stock a little prior to auction.

Looking ahead

With the warmer climate and school holidays on the horizon, I don't foresee a big upturn. But if continuity prevails, I predict a far more consistent marketplace helped by reduced entries and as always, top quality auctioneering. 

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