The Gavel - April 2025
Hot from the lanes, our auction experts Kevin Blincowe (car) and Stuart Peak (LCV) share key trends they saw in the used vehicle auction market during March and April 2025.
Kevin Blincowe - Car auction market
After a steady Q1, the usual Q2 seasonal dip came earlier than expected, hitting the auction lanes in late March and into April - partly down to a late Easter and staggered school breaks pulling attention (and wallets) away from forecourts, and onto family breaks.
In the first half of April, we saw cautious buying, with many buyers taking a step back to observe the market, rather than diving in. This is likely due to franchise dealers previously stocking up in March, thanks to strong new car sales and part-exchanges, meaning they were less reliant on the auction lanes. Supermarkets and independents on the other hand, were more selective, avoiding large stock purchases and instead cherry-picking high-quality, retail-ready vehicles.
Additional metrics include sales attempts creeping up slightly (1.3 to 1.4), and average days in stock increasing from 7.7 to 8.1. Vendors who read the room and priced accordingly saw conversions in the 90s, although often below cap clean. Those holding out on price mostly landed in the 60–70% range.
When it comes to what sold well, retail-ready stock remained stable. However, anything scruffy, lacking paperwork, or needing prep was a tougher ask thanks to refurbishment delays putting buyers off.
Stock sourcing is also more complex than ever, with buyers juggling multiple channels to get what they need. Petrol and hybrids demonstrated the safest bets due to demand, while BEVs broke records again in March, looking to have the same in April’s final figures. Despite higher volumes, BEV sales and conversion rates held firm, with the Tesla’s Model 3 one of the better performers.
All in all, the auction lanes behaved pretty much as expected in the last two months, just a bit earlier. The biggest shift being that the power of the car auction market now sits in buyer’s favour.
As always, our teams up and down the country are on hand to provide independent and realistic valuations of stock to give it the best chance of getting shifted in this evolving market. Rolling our sleeves up to make the best of any market, is just what we do!
Stuart Peak - LCV auctions
While we tend to see a softening in LCV market conditions over the easter period, April defied expectations. Market strength remained solid, building on an already exceptional Q1.
Looking back YoY, April 2024 saw much weaker demand and softer conversions in the auction lanes. While the average sale price has reduced by £453 this April compared to 2024, first time conversion rates were 17% stronger this time around.
Our average selling price has been increasing steadily in the last six months, however. In many instances we’re now seeing guide values reflect this, reflecting robust demand and resilient market conditions.
Panel vans and Chassis derived variants like Tipper and Dropside were clear winners in April, and Panel Van made up over two thirds of all vans sold in our LCV auctions during April. Large panel vans faired particularly well, with late plate, clean, low mileage Transit, Sprinter and Crafter vans in high demand. Harder worked Panel Vans are still selling, but it has been clear to see that buyers will adjust bids accordingly.
While we’re experiencing an overall positive LCV market, there are some key pressure points:
Battery electric vans (BEVs):
- We sold more electric vans in April than ever before, proving demand is growing, but first-time conversions were around 20% lower than they were for diesel equivalents.
- Electric van stock levels are high (especially low-mileage, late plate examples), meaning smart pricing remains key.
- Older models are proving more sellable, likely due to lower upfront costs.
- Many used electric vans are now retailing below guide prices, despite reductions already made in May’s guide values. This suggests further price realignment may still be needed.
9-seat minibuses
- The market has become saturated with minibuses in early 2025.
- Higher-spec models with features like air conditioning are selling reasonably well.
- These features are a must, with lower-spec variants proving tougher to shift in the current environment.
4x4’s:
- A slight softening in the 4x4 market following the new (benefit-in-kind) BIK tax changes launched in April, however demand remains healthy for the majority of 4x4 pickups.
- Some late plate, low mileage 4x4s look overpriced, with guide values down around 5% as we entered May.
- Older, higher-mileage pickups (70,000+ miles) may no longer offer the value needed for trade buyers to turn a profit – one to watch closely in the coming months.
Despite this, the used LCV market is in great shape – something we don’t envisage will change in the foreseeable future. Stock levels are calming slightly after a frantic start to the year, and this will only help market stability. All in all, a great first four months in the van world!
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