Fleet News

Manheim sees buoyant sales

USED car buyers are still competing for quality stock, according to Manheim Auction's senior group auctioneer Andrew Shepherd.

He said that so far the market had seen a bright start to the year and that it could only improve as the volume of fresh stock increases.

Shepherd added: 'The first two weeks of 2003 saw a supply shortage which helped prices to very high levels and quite regularly we are seeing CAP clean prices torn to shreds, with buyers prepared to pay whatever the market dictates.

'Already this year we have seen conversion rates of 100% and in many cases 85-90% are achieved with average CAP clean percentages about the 103% mark.'

Shepherd said franchised dealers were among the strongest buyers to traditionally fill auction halls during the first two months of the year and in order to 'stock up' they were having to compete with car supermarket buyers and larger independent buyers.

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