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.
The auction company recorded an 8% increase in LCV volume YoY, with higher numbers of both daily rental and national fleet and leasing vehicles available at auction.Stock mix remained consistent with recent months, and average age and mileage held relatively steady MoM.
77% of LCVs offered by Manheim in July were sold at the first time of asking, up 3.2% MoM, and Manheim also recorded a slight improvement in performance against guide price (up 0.7%).Matthew Davock, Director of Commercial Vehicles at Manheim, said, “After an unpredictable June, the market picked up in July, and we saw increased buyer demand across our online and physical auctions.”
“That said, buyers were still fighting hard for the cleanest and most desirable stock, and mileage played a major part in buyers’ appetite to purchase.
He added, “In the 4×4 pick-up sector a slight adjustment to guide pricing helped to improve auction conversion rates, but overall condition and specification were key, and vehicles with rear-tops fitted proved significantly more popular with buyers.”