Sales volumes increase in August

A strong August for Cox Automotive as sales volumes increase

Cox Automotive’s wholesale and retail businesses saw the market make a significant improvement in August resulting in a marked increase in sales volumes.

In a change to recent months, the volume of vehicles sold through Manheim’s physical and online car auctions increased 6.9% in August compared to July – a 7.1% increase year-on-year.

Strong sales values in August

The average vehicle mileage remained static, within 0.5% of the previous month, while the average overall sold price of vehicles fell slightly by 1.2% to £6,241.

The increase in volume can be somewhat attributed to an 8.1% uplift in ex-fleet vehicles coming to auction,  a significant 26.2% increase compared to August 2016.

The trend was replicated for part-exchange sales. Vehicle volumes were up by 6.1%, although the average sold price fell 3.5% to £3,760, signalling a slight shift to vehicles of lower value coming through the lanes.

Dealer Auction, the UK’s largest trade-to-trade online auction platform, also saw average vehicle volumes increase, up 12.2% year on year.

The retail market remained static, with car search website, Motors.co.uk, reporting a 1.5% uplift, from £13,557 in July, to £13,764 in August. The figure represents a 13.7% increase from the same period in 2016, reflecting a change in the types of vehicles sold year on year.

NextGear Capital, the wholesale stock funding business, remained static in the number of units funded, while average cost of units funded fell 1.3% from the previous month.

Daren Wiseman, Head of Valuations at Cox Automotive UK said: “Sectors have once again remained strong and stable throughout August, driven primarily by steady demand matching steady vehicle supply.

“As we move through September, the first of the 67’ plated cars have taken to the roads, although the days of consumers rushing into the showroom to collect their shiny new vehicle on the first day of the new plate are gone.

“We do, however, anticipate a potential increase in volumes of vehicles into our various remarketing channels, especially during the 3rd and 4th weeks of the month, supported by the steady flow of new vehicles off the production lines and longer lead times for new vehicle orders.”

“In addition, as the colder, wetter weather draws in over the coming weeks and months, we expect to see 4x4 values performing better than they have through the summer months.”


Sectors have once again remained strong and stable throughout August, driven primarily by steady demand matching steady vehicle supply.
- Daren Wiseman, Head of Valuations at Cox Automotive UK

Wiseman added: “As we move through September, the first of the 67’ plated cars have taken to the roads, although the days of consumers rushing into the showroom to collect their shiny new vehicle on the first day of the new plate are gone.

“We do, however, anticipate a potential increase in volumes of vehicles into our various remarketing channels, especially during the 3rd and 4th weeks of the month, supported by the steady flow of new vehicles off the production lines and longer lead times for new vehicle orders.”

“In addition, as the colder, wetter weather draws in over the coming weeks and months, we expect to see 4x4 values performing better than they have through the summer months.”