LCV wholesale volume up

LCV wholesale volume up at Manheim in November

Manheim Shepshed LCV auction

Manheim, a leading UK provider of integrated products and services for the vehicle remarketing sector, has reported a 7% year-on-year increase in volume for November as the LCV market continues to show a strong performance.

November’s figures show online sales at their highest level this year, with 40% of vehicles sold across the month going to online bidders.

Matthew Davock, Director of Commercial Vehicles, said: “Online special LCV sales have been strong throughout 2018, and November’s figures have been bolstered by an impressive 32% increase in LCV online-only sales events compared to November 2017.”

In terms of stock profile, Manheim recorded a month-on-month rise in average vehicle age (+ 4 months) and mileage (+ 5,000), resulting in a fall in the average selling price for vehicles going through the lanes compared to October (down £325 to £5,878).

Davock continued: “In line with seasonal expectations, the market softened slightly in November as daily rental fleets embarked on their busiest period of the year. Buyers also focused on replacing sold stock in preparation for the unpredictable December market.

“That said, the appetite for clean, ready-to-retail stock remains strong, and higher specification vehicles with metallic paint continue to attract high levels of buyer interest.”

“We expect to see the market remain steady through December, and our teams are busy preparing some special Christmas-themed events for customers to close an extremely strong year for the LCV sector.”

Latest from Cox Automotive

16th August, 2019

Cox Automotive forecasts 7.8 million used car transactions in 2019 after strong H1 used car performance

We've reaffirmed our full year forecast of 7.8 million used car transactions in 2019 following the release of Q2 figures from the SMMT.

Read more
13th August, 2019

Market tracker - July 2019

July trading started reasonably well and stock availability in the wholesale market did improve in July, according to results released today by Cox Automotive.

Read more
13th August, 2019

CV market tracker - July 2019

The used LCV market put in a strong performance in July with good levels of buyer demand and stock availability, according to the latest results from Manheim.

Read more
6th August, 2019

Dealers react as dip in diesel demand hits used car market

Declining demand for diesel stock is starting to impact the used car market according to the latest NextGear Capital sentiment survey.

Read more
More articles