Strong performances through online wholesale auctions according to the latest used car market tracker released by Cox Automotive UK.
Manheim Auction Services and Hitachi Capital Vehicle Solutions (HCVS) are hosting an exclusive online event on Friday, July 10, featuring a rang of quality cars and hand-picked heavy goods vehicles (HGVs).
Hitachi Capital Vehicle Solutions says the industry will have to ‘knuckle down’ if values are to be achieved in a post-pandemic used car market.
Covid-19 is set to transform the used car market, with more vehicles being sold online at the expense of physical sales.
Manheim will be recommencing an auction programme from Tuesday, May 12.
The impact of Covid-19 on the wholesale and retail markets for new and used cars as well as LCVs has been revealed by Cox Automotive UK.
Used car values have fallen by 2.2% this month as retail and trade demand is affected by the Coronavirus crisis, according to Cap HPI.
Manheim UK, part of Cox Automotive UK, suspended all of its physical auction programmes to comply the with Government restrictions at the start of this week.
First time conversion rates continued to hold their own in December at 85.5%, data from Manheim shows.
Fleet volumes at Manheim increased by 8.2% year-on-year and 22% month-on-month in October, reports Cox Automotive.
87% of vehicles sold first-time at Manheim in September as demand for stock exceeded supply in September wholesale market.
Manheim has announced a new five-year deal with Big Motoring World to remarket 50,000 part-exchange vehicles on a sole supplier basis
Allen Ford has renewed its contract with Manheim to auction 5,000 vehicles a year.
Manheim has revealed a five-day mega event with over 1,000 vehicles from Marshall Motor Group, as dealers look to capitalise on used stock.
Halliwell Jones has agreed a new two year deal with BCA, while Manheim has renewed its long-standing partnership with Group 1 Automotive until the end of 2019.
Vehicle values remained steady in a “buoyant” wholesale market in February, according to Cox Automotive.
Manheim has renewed its partnership with Hendy Group for a further four years, marking 17 years of collaboration.
Incident management provider FMG has appointed Dave Parry as its new commercial director, following Harvey Stead's promotion to managing director last year.
More than 1,100 vehicles have been remarketed for one of the UK’s largest Vauxhall groups since May this year, achieving an average 91.8% Cap Clean.
Demand for used cars has remained high in October, with strong residual values for ex-fleet vehicles.
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