The Gavel - October 2025
Key insights from UK wholesale vehicle auctions
October brought another month of healthy activity across the UK’s used vehicle auctions, with both car and van markets demonstrating strong buyer confidence and well-balanced supply. From resilient retail demand to continued strength in conversion rates, the lanes remained lively as momentum builds toward the end of the year.
Used car market trends: Steady volumes and confident trading
Kevin Blincowe, Head of Auctioneering, Manheim Auction Services.
Confidence carries through October
October had a calm, confident rhythm to its busy halls, steady bidding, and plenty of positive energy across the board. Volumes increased as more stock flowed through, giving buyers welcome choice, while conversion rates stayed impressively high until the half-term lull. Even then, activity only eased slightly before bouncing back into gear as November approached.
Buyers remain keen, but a more selective tone has crept in. The market’s still strong, just a little more measured. Clean, retail-ready cars continue to command top attention and quick sales, while anything needing prep has to be priced sharply to attract interest. CAP/HPI trends and wider industry commentary echo this reality: a touch of softening, but overall stability remains the defining theme.
Shifting mix, sharper focus
There’s plenty of product choice at the moment, especially in SUVs, and that naturally creates some price tension. Certain prestige and convertible models have felt seasonal pressure, which is no surprise heading into the colder months. In contrast, smaller petrol cars have been the star performers. Quick to sell, strong on CAP returns, and highly sought after by both retail and trade buyers, they’re proving to be the stock everyone wants.
Battery Electric Vehicles (BEVs) are holding their own, too. Values have steadied, confidence has grown, and the segment feels far more predictable than it did a year ago. The right EV sensible range, fair price, tidy condition will always find a home, and traders are now approaching them with genuine confidence.
Looking ahead
October might not have delivered fireworks, but it showcased a market that’s stable, resilient, and well set for the final quarter. We’re seeing consistency in buyer behaviour, maturity in pricing, and real appetite to keep the wheels turning. Two months remain in what’s already been a standout year and the signs for November are more than encouraging..
Used van market: Another gear higher for LCVs
Stuart Peak, National LCV Manager, Manheim Auction Services
Momentum builds, metrics impress
October extended the strong run we reported in September. The used van market continued to perform at a very high level, combining consistent supply with exceptional buyer demand. Overall sold volume rose just over 12% month-on-month, while first-time conversions climbed again up by a further 1% to reach 88%, their best level since March 2021. Days to sell also shortened by a day, marking the quickest turnaround we’ve seen since June 2021.
That performance underlines just how well balanced the market is right now. Stock is arriving in a steady, manageable flow; buyer appetite remains fierce; and guide prices are in tune with market values. It’s a recipe that’s kept the LCV sector in top shape throughout 2025.
Values strengthen in key segments
Guide prices in some instances have increased further as we’ve moved into November, following upward movements in October. Medium and large panel vans, along with chassis-derived products like Lutons, Tippers, and Dropsides, are leading the way. Our sales data from the last quarter reinforces these upward movements. Buyers are confident, bidding is competitive, and returns are robust.
Engagement hits new highs
October also saw a notable increase in buyer participation. The number of individuals purchasing vans was up 8% compared with September, another strong sign of demand for quality used stock. The buzz in our physical auctions has been particularly satisfying: over 40% of all vans sold went to in-hall buyers, the highest level since our physical LCV events relaunched in 2022. Online bidding remains equally strong, proving that confidence spans both channels.
New registrations and the road ahead
September’s plate change brought a bump in new van registrations, with 47,418 new LCVs hitting the road. But even with that lift, year-to-date registrations remain just over 10% behind the same period in 2024, a clear reminder of why the used sector remains so vital to the wider market. Hot off the press, October registrations have reduced by 15% vs October 2024 with 22896 vans registered in the month, over 4000 fewer than a year ago.
Manheim’s first November sale at Shepshed set a confident tone for the month ahead. The hall was standing room only, the bidding fierce, and results superb. The strength, balance, and consistency of the used van market continue to be the standout story of 2025.
UK vehicle auctions: Final thoughts for September 2025
October reinforced the resilience and maturity of today’s wholesale market. Used cars maintained stability and selective strength, while LCVs pushed further ahead with record conversion rates and robust values. The lanes remain busy, buyers are engaged, and sentiment across both sectors is upbeat.
As the industry moves through Q4, all indicators suggest a confident run toward year-end with stock in demand, prices holding, and the market’s momentum showing no sign of slowing.
Subscribe to the next edition of The Gavel for the latest trends, auction insights, and expert commentary direct from Manheim’s rostrums.
From used car market trends showing resilience through the summer slowdown, to the used van market delivering fierce competition and record conversion rates, August underlined the strength of the wholesale trade.
With the September plate change around the corner, fresh supply is imminent and with demand building across cars, vans, and the used EV market, conditions are aligning for a strong close to Q3.
Subscribe today for next month’s edition of The Gavel, with the latest used vehicle market trends and insights direct from the auction lanes.
