Fleet remarketing - Page 32

The leasing industry enjoying a residual value windfall worth hundreds and perhaps thousands of pounds per vehicle as record used car prices makes a mockery of forecasts made in the depths of recession.

Value of high quality, well-equipped three and four-year-old company cars with less than 50,000 miles on the clock will continue to rise, according to remarketing company Manheim.

Roger Woodward, managing director, CD Auction Group, on why reports of falling wholesale values are misleading.

The monthly Market Analysis from Manheim shows that although the average value of vans at auction has increased over the year, last month’s prediction that the market may have hit a glass ceiling, appears to be coming true.

BCA Group has announced that it will shortly be launching a buyer stock funding product. Andrew Shaw has been appointed to head this new finance business which is launching in July.

Manheim is reporting that conditions in the UK automotive market are the most positive it has seen in four years, with volumes of used vehicles sold through Manheim's auctions up by nearly 20% during the first four months of 2013.

A report by the National Association of Motor Auctions has shown an average 5% rise in LCV auction values compared with March.

The average value of used cars sold at auction across the board decreased from £5,013 to £4,862 in April while the total volume of sales fell by 6% as a result of reduced activity following the Easter break, according to the National Association of Motor Auctions (NAMA).

G3 Remarketing is holding its first Lex Autolease sale on Thursday (May 16).

Over the past month, the average selling price of ex-fleet cars has risen by £131, confirming the continuing upward trend in residual values, according to the latest Manheim Market Analysis.

A long period of stability in used car values has given way to falling prices in the trade, according to CAP.

BCA’s latest Pulse report shows that the headline average monthly used car value declined by 7% in April compared to March, although year-on-year values were up by over 16%.

Light commercial vehicle values rose for the third consecutive month to reach a new highpoint in April according to BCA’s latest Pulse report.

Glass’s has appointed Lee Coomber to the new role of head of partnerships, reflecting its determination to strengthen and grow its business through successful partnership channels, providing innovative products and solutions to trade and consumers.

BCA has announced the acquisition of nkl automotive, the vehicle logistics and storage specialists based in Goole, Yorkshire for an undisclosed sum.

Aston Barclay’s Prees Heath centre in Shropshire has secured a solus deal to handle the disposal and remarketing requirements of Chapelhouse Motor Group, the multi-franchised dealer group based in Merseyside.

SMA Vehicle Remarketing will be holding its first motability eAuction on April 29th.

During March the conversion rates of used vans were up to 81% whilst the average number of days that LCVs remained on site reduced to just 10.9, according to the National Association of Motor Auctions (NAMA).

During March the average values of used cars sold at auction across the board decreased from £5,359 to £5,013, equivalent to a 6% decrease between February and March, according to the National Association of Motor Auctions (NAMA).

Although the economic climate continues to bite, demand for retail ready de-fleeted cars is still strong, according to Manheim’s latest market report of the wholesale vehicle market.

Average LCV values continued to rise in March, with new record values set for fleet and lease and dealer part-exchange vans, according to BCA.

BCA has signed an exclusive remarketing agreement with dealer group Jardine which will see it remarketing approximately 14,000 vehicles annually.

BCA Nottingham are celebrating as the auction centre sold a record number of vehicles during the third week of March.

Petrol cars are making a strong come back in the used market as buyers realise they do not cover enough miles to justify the extra purchase price and higher fuel prices connected with a diesel model, says Autorola.

Analysis of used car sales from Experian has revealed that the biggest growth came from the 4x4 segment – an increase of 5.2% compared to 2011.

The average values of used cars sold at auction across the board during February increased from £4,856 to £5,359, equivalent to a 10% increase on the previous month

The National Association of Motor Auctions (NAMA) published its LCV market report for February, which shows taverage values of used LCVs at auction increased by 2%.

The VRA expects the market to come back into line with seasonal trends after a strong start to 2013.

Wilsons Auctions has been named one of Ireland’s ‘Best Managed’ companies for the fourth year in a row at the Deloitte Best Managed Companies Awards.

Prices of de-fleeted cars at auction rose again for the third month in a row in February according to Manheim’s latest monthly barometer of activity.

As a supporting partner of Red Nose Day 2013, Kia Motors has been getting into the spirit of doing ‘Something Funny for Money’ and, on 5 March, Kia dealers from all around the UK auctioned off their ‘pimped’ Part-Ex’s at BCA’s Measham auction centre.

Prize draws and other rewards at 5,000th sale at BCA Brighous on March 13.

Demand for used vehicles overseas is leading to cars targeted for export selling for up to twice their UK value or more at auction, says CAP.

SMA Vehicle Remarketing has announced the launch of a new stock funding facility, working in tandem with Vehicle Stocking Limited.

Fleet & lease cars averaged £8,851 in February, rising by £325 compared to January and establishing yet another record monthly value.

BCA’s latest Pulse data shows average LCV values reached a new record level in February, with fleet & lease values increasing significantly while dealer part-exchange values fell compared to the previous month.

PSA Peugeot Citroën has confirmed a three-year solus vehicle defleet, remarketing and retail services partnership with Manheim in the UK.

The report shows that during January the average values of used cars sold at auction across the board decreased from £5,402 to £4,856, equivalent to a 10.7% reduction between December and January.

Glass’s has published a league table of the fastest selling used cars, and 4x4s were by far and away the most popular cars on Britain’s forecourts in January.

Manheim’s Gloucester auction centre has won LeasePlan’s supplier excellence award for LCV Auction Provider of the Year, for the second year running.