Top Commercial Vehicle Auction Business in the UK Revealed an Increase on Sale Prices

Top Commercial Vehicle Auction Business in the UK Revealed an Increase on Sale Prices

The top commercial vehicle auction business in the UK has revealed that they have seen an increase in their year on year sale price for May. Manheim say that last month the average sale price of a van at the auction company was £5,040, which works out to be a year-on-year increase of 7.3%.

This is not the only success that has been reported by Manheim, as the business has also experienced a slight increase in the volume of sales since May last year of 1.9%. The volume of sales have also increased by 10.4% in comparison to April 2017. The increase in the volume of vehicles that were sold by Manheim led to a softer month-on-month selling price average of 2.2%.

The commercial vehicle market has been going strong especially towards the end of May. In comparison to April, last month was consistent in terms of selling performance for Manheim, with the number of Bank Holidays in April having an impact on sales. The figures show that the vans sold by Manheim in May were younger by four months than in May last year. The average age of the vehicles sold by the auction business was 63 months, with mileage down by 3.6% as an average to 77,431. Despite this, May saw the highest mileage average figure in comparison to the rest of the data that has been collected for 2017 so far.

According to Matthew Davock, the head of LCV at Manheim, the majority of sales with the auction company are vans with a high mileage and high incidences of damage. As a reflection of this, the average damage that has been recorded across the vehicles sold by the company is £834 which shows a 17% increase.

At their auction centre in Gloucester, Manheim opened a new auction lane in May. This has been great for the business who had more than 400 buyers taking part in the launch sale. In the new lane, the company managed to sell more than 350 vans over the course of four hours.

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