Fleet News

G3 Remarketing reports strong start for 2011

Online vehicle disposal company, G3 Remarketing has reported a stronger start to 2011 than 2010 suggesting a positive outlook for the first quarter of the year.

“Uncertainty always surrounds the beginning of a year, and even more so this year. However results from our online auction are encouraging” reports Tom Marley head of projects and development. “With the continued investment in disposal platforms and additional off-site sales we are able to bring more stock to the market for our buyers and achieve greater results for our vendors. Our inaugural off-site VIP auction demonstrates our strength with a 100% conversion for 98% of reserve”

According to G3 Remarketing they are seeing a shift in the types of vehicles that are proving popular in the first months of the year.

“Even though we are still in the depths of winter, surprisingly we are seeing a surge in demand for cabriolet vehicles, achieving on average 103% of CAP Clean” Matt Dale, director comments. “With a greater number of vendors disposing of vehicles through our online auction since the beginning of the New Year buyers are attracted to the simple, hassle free service we can offer and purchase stock from the comfort of their own office”

G3 Remarketing believes the outlook in the used vehicle sector for the first quarter remains upbeat after reporting a 25% increase in its weekly website traffic and an increase of 18% of new registered buyers.

“We are predicting that CAP will increase its book values in February which will hopefully not stagnate the market. Quality stock remains scarce therefore values for certain vehicle should remain buoyant however as the age and mileage of the remain stock increase, values for unloved stock will come under pressure”

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