Fleet remarketing - Page 11

Manheim has recorded another record-breaking LCV sales performance in August, bucking the traditional seasonal slowdown and setting an all-time average selling price record.

To sell a car takes just three days, on average, Adesa claims

Volumes of sales through epyx’s fleet remarketing platform are now exceeding pre-lockdown levels, the company reports.

Physical buyers have been welcomed back to the auction halls of Shoreham Vehicle Auctions (SVA) for the first time since the Covid-19 pandemic.

Used car values for both petrol and diesel stayed strong in August, but electric vehicles (EVs) and some hybrids continue to struggle, says CAP HPI.

Perrys has agreed a new three-year deal with Manheim, part of Cox Automotive UK, for its part-exchange vehicles.

A new digital click and collect service for auction purchases has been introduced by BCA to meet the changing needs of customers in a post-Covid market.

Online vehicle remarketing business Copart UK has launched a new grading system to give buyers a clear and definable indication of a vehicle’s condition.

Black may dominate overall, but white is the most popular choice for new cars registered, new DVLA data shows.

Intelligent Car Leasing is launching a new service, called Sell My Car, with Motorway to allow customers to sell existing vehicles before leasing a new one.

The used car market halved in quarter two, but year-to-date decline and recent used car sales show the sector is recovering.

Used van prices have reached an all-time high in July as demand for used stock increases among buyers.

News briefs from across the fleet industry, including how SMR is a key consideration for fleets going forward and drink driving warning during the holiday season.

Pricing experts at Cap HPI have played down the potential of Mitsubishi’s decision to exit the UK having a negative impact on residual values (RVs).

Average used car sale values increased in July at the three-years/60,000-miles – the first increase in the month since 2009 and followed an even stronger June.

Strong performances through online wholesale auctions according to the latest used car market tracker released by Cox Automotive UK.

Rockingham Group is investing more than £12 million in phase two of the expansion of its remarketing facility at its Automotive Logistics Hub at Rockingham, Northants.

BCA has released an update to its Buyer app with the introduction of new functionality allowing customers to place bids on its Bid Now online auction platform.

Diesel used car prices rise by 31.3% as demand for older vehicles in the used car market outstrips supply.

Cazoo has announced the acquisition of independent used car retailer Imperial Car Supermarkets for an undisclosed sum.

Manheim says a lack of wholesale supply is not driving current van demand to record levels, with June’s volume only 12% down year-on-year.

Manheim Auction Services and Hitachi Capital Vehicle Solutions (HCVS) are hosting an exclusive online event on Friday, July 10, featuring a rang of quality cars and hand-picked heavy goods vehicles (HGVs).

Businesses are being advised to review their vehicle remarketing strategies to ensure they are prepared should lockdown measures be reintroduced.

Pent-up demand for used vans reduced stock levels to a point where prices rose by between 30-40% in June, reports Shoreham Vehicle Auctions (SVA).

The used car market is performing well, with CD Auctions reporting record volumes as online sales attract a large number of first-time buyers.

Aston Barclay has been appointed by Zenith as its preferred supplier of remarketing services in a new two-year contract.

The impact of Covid-19 on the used vehicle market will be discussed at the Vehicle Remarketing Association (VRA) AGM on July 1.

There are some encouraging signs that the used car market is performing well since lockdown restrictions were lifted.

Aston Barclay is maintaining its online-only auction policy, despite Government guidance that auctions can re-open.

Industry trade bodies have united to publish new safety guidance for the remarketing sector as businesses begin to re-open following the lockdown.

Rupert Pontin, director of insight at Cazana

By Andrew Mee, head of forecast UK at Cap HPI

Fleets urged to stagger vehicle returns to help lessen the impact of coronavirus on used car values, while dealers are warned not to cut new car prices.

BCA has released valuation insight covering the post-lockdown period highlighting that used car values and demand from professional buyers have steadily risen.

Hitachi Capital Vehicle Solutions says the industry will have to ‘knuckle down’ if values are to be achieved in a post-pandemic used car market.

Covid-19 is set to transform the used car market, with more vehicles being sold online at the expense of physical sales.

Half of buyers said they are expecting a strong demand for used cars as soon as dealers open for business, a survey suggests.

BCA Valuations reports that pre-sale valuations averaged 100.2% during the first weeks of the Covid-19 lockdown in virtual used car sales.

But the company urges caution, with volatile price movements expected over the next few weeks.

Manheim will be recommencing an auction programme from Tuesday, May 12.