Manheim, a leading UK provider of integrated products and services for the vehicle remarketing sector, has reported a 7% year-on-year increase in volume for November as the LCV market continues to show a strong performance.
November’s figures show online sales at their highest level this year, with 40% of vehicles sold across the month going to online bidders.
Matthew Davock, Director of Commercial Vehicles, said: “Online special LCV sales have been strong throughout 2018, and November’s figures have been bolstered by an impressive 32% increase in LCV online-only sales events compared to November 2017.”
In terms of stock profile, Manheim recorded a month-on-month rise in average vehicle age (+ 4 months) and mileage (+ 5,000), resulting in a fall in the average selling price for vehicles going through the lanes compared to October (down £325 to £5,878).
Davock continued: “In line with seasonal expectations, the market softened slightly in November as daily rental fleets embarked on their busiest period of the year. Buyers also focused on replacing sold stock in preparation for the unpredictable December market.
“That said, the appetite for clean, ready-to-retail stock remains strong, and higher specification vehicles with metallic paint continue to attract high levels of buyer interest.”
“We expect to see the market remain steady through December, and our teams are busy preparing some special Christmas-themed events for customers to close an extremely strong year for the LCV sector.”