The Gavel, Q1 2026: Wholesale used vehicle auction insights
Fresh from the lanes, our auction experts Kevin Blincowe (car) and Stuart Peak (LCV) and Chris Mynott (Truck & Plant) share key trends in the used vehicle auction market throughout Q1 2026.
Kevin Blincowe, Head of Auctioneering
Coming out of a strong Q1 and heading into the next part of the year, things are starting to shift slightly. Nothing major, but just enough to notice and worth keeping an eye on over the next few months.
There’s a bit more going on in the background now. Ongoing global tensions, cost pressures, and general economic noise are all still there, and you can see that feeding into how buyers are behaving. Retail demand eased off a touch through March, while wholesale supply stayed fairly steady. The result is values dipping back for a second month running, not a sharp drop, more a gentle levelling out.
What’s becoming clearer is how segmented the market is.
Petrol, diesel, hybrid and PHEV stock are all doing pretty much what you’d expect. Steady, predictable, and tracking along with longer-term trends. BEVs are still a slightly different story. Volumes have ramped up quickly and while buyers are there, demand hasn’t quite kept pace. That imbalance is keeping pressure on values, especially for older vehicles where battery health and ageing tech are still part of the conversation.
That said, it’s not all one-way traffic. There’s definitely opportunity there for buyers who know the product and are confident retailing it. Pricing has adjusted, and in many cases that’s opening the door to EV stock at levels we haven’t seen for a while.
Looking ahead, volumes are only going one way. Post-Easter will bring the usual wave of fleet returns and March part-exchanges back into the lanes. Add in bank holidays and school holidays, and buyer attendance will naturally vary at this time. Some sales will feel busy, others a bit quieter, so consistency might be harder to find.
That makes how we engage with buyers even more important.
This year, there’s a real focus on putting the buyer front and centre. Easy access to stock, smooth transactions, and confidence in the process all matter more in a market where buyers are being more selective.
That’s where initiatives from Dealer Auction and NextGear come into play. The funding fee offer, in particular, is giving buyers a bit more flexibility and helping them stay active.
A good example is the work with Hertz around used Polestar stock. Through Dealer Auction, buyers can access up to 60 days of holding costs covered when funding through NextGear. In simple terms, that removes one of the biggest barriers when it comes to stocking EVs in a more cautious market. It gives dealers a bit of breathing space, time to retail the vehicle before costs really start to bite, which is especially useful given current EV retailing times.
At a point where BEV values are under pressure and buyers are understandably cautious, that kind of support helps keep confidence up and keeps people engaged with the product.
From a vendor point of view, the message hasn’t really changed from what we saw through March. Conversion rates are still strong, but being aligned to the market is key. Vendors who are pricing right and reacting quickly are still getting good results. Those holding out for more — particularly on stock that doesn’t quite stand out, are finding buyers are quick to step back. It’s a more disciplined market now. Still stable, still moving well, but with less room for getting it wrong.
Overall, the fundamentals are still solid. There’s demand, there’s supply, and plenty of deals still being done, it just needs a slightly sharper approach than earlier in the year. Q2 will bring its challenges, but there’s plenty of opportunity there for those who stay close to the market and even closer to their buyers.
Stuart Peak, National LCV Manager
It’s been a really solid start to 2026 for the LCV market, pretty much exactly what we were hoping for. From the first sale in January, things have felt consistent, with strong buyer appetite and plenty of confidence carrying right through the quarter. The halls have been busy, online attendance has been excellent, and that energy has translated into a strong set of results month after month.
First-time conversions averaged 83% across Q1, which says a lot about how engaged and competitive buyers have been, even with volumes down on last year. Average selling price climbed by just under 25% compared to Q1 2025, reaching £9,223. That reflects both the confidence in the market and the improving quality of stock coming through.
Even with fewer vans available, buyers have still stepped up for the right vehicles at the right money. The overall stock profile has improved month by month too, with average age dropping from 67 to 63 months and mileage coming back from just under 74,000 to around 71,500 miles. Better stock has naturally helped drive stronger values and quicker sales.
Electric vans are starting to build a bit of momentum as well. March saw a record number of electric vans sold, which is encouraging. Guide prices are generally in the right place, although first-time conversions still lag behind diesel. That said, things are moving in the right direction.
Interestingly, new electric van registrations actually dropped compared to March last year, down by 610 units and making up just 6.6% of all new vans registered. That’s still well short of the 24% target for 2026, and it shows there are still hurdles for fleets and operators, even with improvements in range on newer models.
Overall volumes for Q1 were down 14% on 2025, which wasn’t unexpected given the softer new registration figures. There were just over 3,000 fewer vans registered compared to last year, and more than 13,000 fewer than Q1 2024, so the supply side has clearly been impacted.
We’re still seeing some pressure around nearly-new stock, particularly vans under two years old. In some cases, vendor expectations and guide prices are sitting too close to new vehicle pricing, and with margins tight and more of this stock becoming available, buyers can afford to be selective.
All in all, though, it’s been a positive and steady start to the year. There are a few pressure points in certain areas, and with the wider economic and political backdrop still in play, it wouldn’t be a surprise to see buyers being a bit more cautious as we move through Q2.
Chris Mynott, National HGV & Plant Manager
Q1 has absolutely flown by, and it’s been a brilliant start to the year across our truck and plant lanes. The halls have been busy, the mood has been good, and the results have followed. Conversion rates have been consistently north of 70%, with first-time sales pretty much in line with that as well. We’re seeing around 300 buyers at each auction, and that number just keeps growing week by week. Stock levels have been strong too, with around 250 lots per sale recently, and at times Gloucester has been packed to the rafters. There’s been plenty of quality kit coming through, especially late plate tractor units from big names like Culina, Novuna, Wincanton and Enterprise all performing really well.
Premium brands such as Scania, Volvo, DAF and Mercedes up to six years old have been the backbone of the sales, finding homes both in the UK and overseas without much trouble. We’ve also seen good numbers of Renault, MAN and Iveco coming through, offering great value and selling well in their own right.
There’s also been a steady flow of more specialist kit over the past couple of months, tanker trucks and trailers in particular, from fuel to waste water. Even some of the older units, if they’re in decent condition, are still making strong money. With the cost of new kit where it is, more operators are choosing to refurb rather than replace, and that’s definitely feeding into demand. Tippers and crane trucks have been appearing in greater numbers too. As always, spec is key, but there’s a buyer out there for everything.
We’ve also had some standout moments, recently selling some nearly-new utility poling units that sparked a real buzz in the lanes. With strong marketing behind them, they exceeded expectations and still offered buyers a big saving compared to new. That’s what it’s all about good outcomes on both sides.
On the plant and machinery side, volumes of larger kit have been as high as we’ve seen for a while. Excavators, loading shovels, dumpers, there’s plenty to go at in every sale, and the monthly programme is working well for both buyers and vendors. It gives enough time to build the right stock and create proper interest.
And it’s not just the big stuff, smaller items continue to perform too. Trailers, mowers, generators… we even sold a BBQ house and a batch of portaloos recently. The variety keeps things interesting, and buyers really get involved. These sales have been great events all round.
That said, it’s not without its challenges. Rising fuel costs and wider global issues are starting to have an impact. Many domestic operators are feeling the squeeze, and confidence isn’t always where it could be. Export buyers are also facing higher shipping costs and reduced services, which is beginning to affect their buying power.
We’ve got some buyers who supply directly into conflict-affected areas, and for them, trade has pretty much stopped for now. We’ll keep supporting where we can and hope things improve sooner rather than later.
All things considered though, it’s been a cracking first quarter. Strong numbers, good stock, and a market that’s still moving well — the phones are ringing, buyers are bidding, and we’re getting plenty of metal sold.
