Fleet News

Manheim sees quality stock make the grade

QUALITY stock is still in short supply and is selling well above CAP clean prices, Manheim Auctions reports.

According to Andrew Shepherd, senior group auctioneer for the remarketing firm, competition from major buyers on quality stock is pushing prices to about £400 to £500 above CAP clean.

He said: 'Reports are that the retail market is much more buoyant and this is reflected around the auction centres where both conversion rates and CAP figures have increased by four to five percentage points. The best performing vehicles, however, have still not changed, with anything that little bit different, low mileage in the right colour and quality achieving whatever it is valued at on the day. Also seven-seater petrol or diesel MPVs from any manufacturer are making CAP clean valuations look silly at the moment.'

And the rest of the year is looking promising, Shepherd believes, with low interest rates powering the second-hand retail sector.

He added: 'With the recent percentage drop in bank and mortgage rates, it looks as though there will be more confidence around in both the retail sector and wholesale auction buyers which could well see the final four months of the year as quite a profitable trading period.

'We should see some good conversions and CAP clean figures over the coming months.'

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