Fleet News

Marketwatch: 'Don't be greedy' message to sellers

MANHEIM Auctions has told vendors they should consider accepting below CAP Clean prices at the moment as the current supply of used vehicles is exceeding demand. And vendors holding out for more than CAP Clean, as they did in 2003, risk losing thousands of pounds as a result.

Manheim is recommending that vendors accept bids of 97-89% CAP Clean. Martin Potter, corporate sales director, said: 'Holding on to the car is often a false economy, especially at the end of the month, as CAP and Glass's publish their latest used value guides and the car's value could drop by £200.'

Also, it was claimed this week that fleet managers and board directors have little understanding of the corporate liability and social responsibility issues associated with vehicle disposal.

Andrew Walker, chief executive officer of disposals firm The Fleet Auction Group, said: 'Courts are taking issues of corporate responsibility and liability very seriously now, with aggressive pursuit of the supply chain resulting in successful prosecutions and multi-million pound awards.

'Ignorance of the potential ramifications of your actions or the apparent transfer of liability are no longer acceptable defences, either legally or morally.'

  • The firm has launched a free brochure to guide fleets. E-mail: info@thefleetauctiongroup.com or phone 01530 833535 for a copy

    Star car

    CAR: Y01 Renault Megane Cabriolet 1.6 manual
    MILEAGE: 20,000
    WHERE SOLD: Manheim Wimbledon
    WHEN: June 11 2004
    Condition: Good (CAP Clean)
    HOW MUCH: £8,100
    % OF CAP CLEAN: 118%
    SALE: Direct from a dealer group
    Background: Good weather has seen convertible rises increase of late. Low mileage and excellent condition helped bump up the price of the Megane. Complete with colour-coded bumpers. After a Manheim Retail valet, a number of dealers were looking to buy it and put it straight on their forecourt, safe in the knowledge they wouldn't have to spend money on the car.

  • Leave a comment for your chance to win £20 of John Lewis vouchers.

    Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

    Login to comment


    No comments have been made yet.

    Compare costs of your company cars

    Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

    What is your BIK car tax liability?

    The Fleet News car tax calculator lets you work out tax costs for both employer and employee