Fleet News

Autumn sales success leads to a mood of caution

TOP used car buyers have been buying in fairly large numbers, suggesting that retail business has picked up over the past week, according to Manheim Auctions.

Senior group auctioneer Andrew Shepherd said: 'The general state of the market is very difficult to predict at present but good-quality vehicles are still well sought-after. MPV seven-seaters are commanding way above CAP clean prices and top marque models are very much in demand.

'Probably the most outstanding result this week goes to a Mercedes-Benz 320 at Leicester, which showed a CAP clean figure of £17,500 and finally sold for £29,500 (173% of CAP), obviously an exportable model.'

Shepherd said that, looking forward, it still seemed that the shortage of fresh stock being supplied to the market would continue throughout the remainder of October and probably into November, which should maintain the competition among the buyers for the quality stock.

'Average cars in average condition with high mileage are still being bought but, as I have said many times before, only at a price attractive to the buyers,' he added.

Manheim has noted that manufacturers' sales are still holding up well and have been steady for most of the year.

Shepherd added: 'Jaguar held their first-ever sale at Manheim Auctions recently and had an excellent result. Ford Motor Company converted about 85% of approximately 160 cars at Coventry, which still shows confidence in the market from the franchise dealers.

'For the time of year, signs are encouraging in all sectors of the used car market.'

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