Fewer part exchange cars from dealers shows signs that new car sales are a little slow on the 56-plate – and as a result the auctions have been on fire, according to Manheim.
Andy Shepherd, Manheim’s senior group auctioneer, said: ‘Prices are exceeding CAP Clean, as virtually all cars that are going under the hammer are being snapped up, even the 80,000-mile plus cars that would normally prove to be a bit tougher to shift.’
A recent sale of 600 ex-fleet cars at Manheim Leeds saw more than 95% sold at the first go. Shepherd said: ‘Hundreds of buyers attended the sale, another reason why prices are strong as attendances have been good. Unlike some months of the year, there are no regional differences in the market, from Leeds in the north to Bristol in the south.
‘Diesel cars are making a few hundred pounds more than equivalent petrol models, but buyers are not put off as they are just happy to secure stock to put on their depleted used car lots.
‘4x4s are a little slower to excite the buyers, but it won’t be long before they start to make a charge, while cabriolet buyers are just showing the first signs of apathy as autumn is nearly upon us.’