Manheim Remarketing comments on the LCV market

Tim Spencer from Manheim on how the summer weather will continue to affect the van market.

Tim Spencer from Manheim on how the summer weather will continue to affect the van market.Gold logo fascia signs11

In my opinion, we will see the market remain steady until the end of September and there will then be an upturn in vehicle values as we head into autumn.

At present, the auction centres are full of stock and the sales are very large, with entries of over 400 vehicles in many cases. However, when you analyse the stock thoroughly, there is a lot of similar, and in many cases damaged, vehicles entering the auctions. This is nothing new though, as many auctions over the past few months have seen this trend.

Currently, the issue of duplicated stock is the biggest challenge for vendors, which means that they need to be more active in the market. It is important that vehicles are thoroughly inspected for damage and the auction stock is analysed to see how many vehicles will be entering the market place. There is likely to be a continued period where vehicle prices plateau, which means that it is critical that the reserves are set accordingly. Those that don’t do their research thoroughly may regret it and could be stuck with their stock for a long time.

For the upcoming period, there is likely to be the usual holiday season slow down with the number of visitors to auction sites decreasing slightly, but without any major sporting distractions this year I feel that the period won’t be as quiet as normal. As buyers look for the right LCV to attract customers, this build up of stock and the lack of seasonal distractions, will mean that any good quality or different vehicle will continue to be fought over and attract strong bids, both in the halls and online.

 

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