Manheim, the UK’s leading provider of integrated products and services for the vehicle remarketing sector, has released its June figures that signalled another strong month for the LCV market. A new record of £6,319 for the average selling price of vehicles coming through the lanes has been registered.

“These results once again prove the strength of the LCV marketplace at Manheim and across the UK as the market place continued to outperform year on year trends and results. We are seeing improved market performances across the board when compared to the same period last year, with vans making £1,197 more and first-time conversion rates up 9%,” said Matthew Davock, Head of LCV at Manheim.

The month saw a slight 6% decrease in terms of volume compared with May. However, the market still remained healthier than 2017, up 3% year on year. The age and mileage profile of vehicles passing through the auction lanes held steady at 58 months and 75,013 respectively, and in line with May, vehicles continued to sell quickly (average 16.7 days) with first-time conversion rates remaining very healthy, at 84.4% (a 9% increase on 2017).

“Despite many market distractions during June, such as the scorching weather, World Cup and Wimbledon, our sale events and end results are very pleasing and demonstrate the importance of our online bidding functionality. We saw a large spike in online participation, with 37% of all vans sold to online buyers and a 22% increase in our Online Only programme when compared to June 2017,” added Matthew.

In the future, Davock thinks that the impending ULEZ and CAZ restrictions will begin to impact the market over the next quarter.

“Overall, the market sentiment is one of quiet assurance as we enter the summer holiday period. Despite the record-breaking figures and superheated market place, we have seen a slight softening over the past four weeks in line with the season, and many dealers are reporting mixed retail activity, with unpredictable trends and difficulty in forecasting demand,” he said.