Head of LCV Matthew Davock said: “The commercial market continues to show no sign of softening. When comparing July against August, we saw a 14% increase in units sold, performance against guide rising by 2% and the average selling price at our in-lane and online auctions recorded its second highest figure for 2016, beaten only by June, topping the chart in first place.”
Conversion rates at Manheim have been equally strong, with record high performance seen throughout the summer of 2016. The firm reports overall results for this period at a healthy 78%, representing year-on-year growth of 7%.
Volumes were up 5% compared to 2015, with average age of vans sold increasing by two months and average mileage also increasing, by 2,000 miles.
Matthew Davock added: “Over the past five years, seasonality has been clear to see within the LCV sector. Typically, it occurs between June and August, driven by holiday periods and the lack of retail footfall, but in my opinion, with the increase in technology and the growth in online channels, we are in a completely different market place. Buyers have been logging on from their holidays during this usually softer period.
“The only areas of caution worth mentioning are around pricing heavily damaged stock correctly and understanding the impact the late-plate and low mileage stock can have when this is compared to the competitive deals on the new purchase prices available.”
