City Auction Group says its second auction at Rockingham was another huge success, with the firm selling 300 vehicles, with a total value of £2 million and all in excess of 96% of CAP.
City Auction Group’s data shows that the city and small vehicle segments performed well at auction this month, with the Mazda 3 Hatchback achieving the highest CAP value (124.1%), followed by the Ford Focus (123.8%) and the Mini Cooper (112.3%).
There was strong demand for the Peugeot 107 and 207 models, with sensible mileage and aged around 3 years. These models achieved average returns of up to 111.8%. The Citroen C1 of a similar age achieved in excess of 105.2%, whilst the BMW 1 achieved 104.3%.
Michael Tomalin, managing director of City Auction Group, said: “Over 300 vehicles were sold on behalf of 25 corporate vendors including TrustFord, Lex Autolease, Semalease, Peugeot & Citroen Financial Services, Avis and Budget and many more.
“We had excellent feedback from attendees and our vendors were delighted with prices we achieved. The current low volume of vehicles in the marketplace assisted with energetic bidding both physically and online.
“From April 16, our auctions will move to fortnightly and we look forward to supplying dealers with a wide range of vehicles at our world-class facility at Rockingham.”
David Cole, national group disposals manager at TrustFord, said: “We had a trial event with City Auction Group at Rockingham earlier this month.
“The auction was very successful and we were highly impressed with the firm’s customer service and the returns on the day were excellent. We look forward working with City Auction Group in the future. ”
The next auction is at 10am on Thursday, April 16.