Manheim sees first signs of market growth

AUCTION activity is picking up following a slump caused by the Jubilee holiday and the football World Cup – and the outlook is set to improve in the autumn, according to Manheim Auctions.

Senior group auctioneer Andrew Shepherd believes the trade could return to the upbeat levels of the early part of the year.

He said: 'The massive volumes of stock are now starting to even out a little and this is helping the used market at a time when buying and buyers are traditionally weak, with summer holidays taking effect.

'Looking forward past the holidays to September, October and November, we could find that the used car market returns to some sort of buoyancy providing both stock levels remain constant and the general economy remains stable.

'If the industry and the general public can see stability in both the stock market and the Bank of England interest rate during the last quarter of this year, then I can see no reason why the remainder of this trading year should not be as steady as the first four or five months of 2002.'