April Sales Figures Show Values Increasing
Manheim has released their market analysis for the month of April, and the numbers represent a strong showing in values as both mileage and average age of available vehicles has decreased. Mileage numbers fell from 80,302 to 80,191, while age dropped from 65 months to 63 months.
The strongest sales area came from the car derived van market, which accounted for 42% of all vans that were sold during the month. In this grouping the average age and mileage of vehicles actually increased, thus reducing sales prices. But in the small panel van sector, which was the second highest sales area, average age fell by six months, though mileage increased by over 9,000 miles. Despite the increased mileage, average values rose by over £300 to £4,444.
According to Matthew Davock, Manheim’s head of LCV, the holidays had an impact, but not as much as had been originally anticipated. “The auction halls up and down the country have remained healthy during April, but the Bank Holidays and the Easter weekend did have an impact on the footfall at auction centres during the month. However, this was offset by the fact that online performance remained very strong and we have seen some auctions sell up to 30% of the vehicle stock via Simulcast, our online bidding technology. Despite the slight decrease in buyers at auction during April, many of the people that I have spoken to are reporting that the first three months of 2014 have been the strongest that they have seen in five years, with many of them keen to stock up and replace sold units.”
Overall, the analysts are saying that though the traditional seasonal slowdown took place, higher values have compensated for it.
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