M CV market report April 2017
Spread the love

Manheim’s average selling price of vans in April was up 13.8% from the same month in 2016, to £5,154.

 

The auctioneer saw lower volumes than in April 2016, with only 18 selling days in the month this year, with Easter holidays for many customers and their families.

Matthew Davock, head of LCV at Manheim, said: “Despite a challenging month where bank holidays impacted the general market mood, and in which we witnessed a slightly tougher atmosphere in the commercial vehicle market than we have seen so far this year, our vendors enjoyed strong sales performance. It was helped by a reduction in the average age of vans sold through our auctions of seven months, compared to April 2016 – down to 63 months – and average mileage falling by more than 10,000 miles year-on-year, to 74,731.

“Following a record first quarter in terms of the number of vans sold and records set for the average conversion rate at Manheim’s commercial vehicle auctions, ‘activity’ was the buzz word in April. While overall buyer footfall and clickfall remained healthy for a bank holiday period, it was slightly down on previous months, and many buyers have reported that April was the slowest retail month seen this year.

Davock  concluded: “Condition remains key, as in April we saw a £461 year-on-year increase in damage on stock being returned and offered for sale. As we enter the time of year when seasonality plays a bigger role, we continue to focus our vendors on realistic reserve setting given current market dynamics, to ensure that they continue to enjoy healthy conversion rates.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here