New hybrid LCV auction launches in Bristol

Manheim has introduced a new hybrid experience for LCV sales which allows customers to participate both digitally and in person.

Physical auctions receive a much-needed boost

200 LCV and 300 car fleet units will pass through the Tuesday lanes each week at the Bristol event – starting at 10am with over 75 fleet, rental, finance and leasing vendors on display.

Matthew Davock, Director of Commercial Vehicles at  commented: “It has been fantastic to launch our new and exciting LCV event. The southwest is hugely important to our commercial vehicle growth aspirations and our established site at Bristol gives us a much greater coverage and experience for our growing customer base.”

During the first month of operation the combined events generated over six million pounds in van sales, achieving an average selling price of £10,701.

Davock continued: “We have recorded strong buyer participation numbers with 1,166 different active buyers in just the first four weeks. The southwest has been starved of physical stock auctions for the past three years and so it’s great to see so many people return to the in-lane selling concept.”

Hybrid auction model increases sales and efficiency

Manheim also reported that 34% of the sales volume was attributed to hall bidders, with 66% of transactions taking place online through a mixture of sectors including franchise, car supermarket sites, and independent dealers, purchasing both cars and vans.

Vendors witnessed strong first-time conversion rates and performance – 53 different LCV vendors were actively selling in this period, achieving over 100% of guide price and 107% of reserve, with 86.5% of units selling first time.

“Overall customer engagement has been incredible; many customers have commented on how the dual car and van sale combination is really driving efficiency, value, and performance through more choice and energetic physical auction sales for fleet, finance, rental, and leasing units,” said Davock.

“The team at Bristol has extensive auction experience which has allowed the launch of our LCV van auction events programme to run smoothly. This new hybrid model represents a natural progression for auction sales following the limitations imposed by the pandemic, and I’m confident it will continue to drive improved value, stronger performance and better choice for our valued vendors and buyers in the future.”