Fleet News

January auction figures prompt optimistic rental sales forecasts

EX-DAILY rental cars have enjoyed a resurgence in the auction halls so far in 2003, according to Manheim Auctions.

The vehicles, traditionally a maligned product in the disposals industry, have enjoyed a strong start to the year, due to a shortage of stock and improved refurbishment procedures.

Manheim Auctions Leicester hosted an ex-rental sale in January that achieved an average of 101% CAP clean.

Senior group auctioneer Andrew Shepherd said: 'The market for ex-daily rental vehicles has, overall, been strong in January, especially for vehicles that are ready to retail.

'Conversion rates are averaging 92 to 93% with CAP clean figures of 103 to 104%. The early part of the year traditionally sees a shortage of stock and 2003 is proving to be no exception.

'Prices are therefore holding out and as we have seen at the recent sale in Leicester, results have been excellent.'

Shepherd added: 'We are anticipating as strong a market as in 2002 and expect the ex-daily rental sector to continue to thrive, especially in the case of those leasing companies investing in pre-sale vehicle preparation.'

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