Fleet News

Keen bidding to Christmas

USED car volumes look set to increase over the coming weeks but the market will become tougher during November and December, making for a competitive year end, claims Manheim Auctions.

This, the company adds, will result in strong prices and keen bidding right up to the Christmas break.

Manheim Auctions' chief auctioneer, Andy Shepherd, said: 'Any major vendors with quantities of stock for January and February 2004 will reap the benefits and they should learn a lesson from 2002/2003 that it is much more prudent to take cars back at 80,000 miles or end of term contract, rather than giving extended contracts and offering cars back to the market at 120,000 to 130,000 miles.

'These cars are much less attractive, more difficult to sell, appeal to a much smaller market and lose hundreds of pounds in residual value. Retail buyers are much more alert to paying more for a 60,000 to 80,000 mile vehicle rather than a 'cheap bargain' at 100,000 miles. They are also looking for best value for money and in particular as much spec as possible.'

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