Fleet News

Fleets shouldn't expect top notch prices

FLEET vendors are being urged not to hold on to their cars in a bid to get a better price at auction. According to Manheim Auctions, most makes and models are below and up to CAP average, with only unusual models and specs making CAP clean and above.

Vendors who have seen cars sell easily are now getting £500 to £750 less for the same models. Andrew Shepherd, Manheim senior group auctioneer, said: 'Holding on to cars for another two to three weeks in the hope that prices will get better is unrealistic. Good trade buyers have turned into Dick Turpin overnight - unless they can pinch them, they don't want them. '

British Car Auctions has been warning fleets for some weeks they should not expect top notch prices. Tom Madden, BCA customer affairs director, said buyers were holding off until after Easter to see what the market was like, but business had now picked up. Manheim's sales over Easter were low with buyers reluctant to buy stock in volume. Shepherd envisaged the market will pick-up in mid-May but not to the levels seen earlier this year.

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee