The strong start to the year for CD Auction Group has been confirmed with a 100% sales conversion for major vendor, BT Fleet. The online sale of both cars and light commercial vehicles also resulted in all vehicles selling at over 100% of CAP clean value.
The success of the sale underlines the growing importance of online auctions in the vehicle defleet and remarketing industry. CD Auction Group has seen demand for all vehicles at record levels since the beginning of the year, leading to fast stock turn and rising values.
“We have had around 30% more buyers looking for cars in the first few weeks of the year than before Christmas,” said Roger Woodward, CD Auction Group managing director. “The bidding on this sale was frantic, especially towards the end, and it is reflected in the outstanding values achieved. The demand for the good quality vans was fantastic.”
Highlights of the sale included diesel hatchback and estates reaching around 110% of CAP clean while some of the light commercial vehicles reached over 130% of CAP clean.
Zenon Witkowski, head of vehicle sales for BT Fleet said: “We have a long standing commercial relationship with CD Auction Group and I’m always impressed with the consistency of results they achieve. This latest success demonstrates how valuable online auctions can be within a professional fleet re-marketing portfolio.
“It is clear that the use on online auctions is going to grow as more businesses recognise the benefits of fast stock turn, high sales values and reduced carbon footprint.”
A recent survey by CD Auction Group among major vendors revealed that 80% are going to use online auctions more over the next five years.
“The 100% success of this sale for BT Fleet just shows how confident buyers are about bidding online, especially if they have seen comprehensive condition reports and high quality digital photographs of the product,” added Woodward.