£7.2 million Manheim sale

Time 9:40 am, October 29, 2012

£7.2 MILLION has been raised at Manheim’s Colchester auction house – in a single sale.

Lex Autolease’s mega sale – now in its second year – was responsible for the headline figure, bringing 550 ex-fleet and 250 finance sourced cars, along with 200 commercial vehicles.

Manheim boast a conversion rate of 90 per cent across the 1000 vehicles, and an average 95.5 per cent of CAP clean – backed up by a number of high achieving lots.

A 2009 Audi A4 S line sold at 233 per cent of CAP clean, for example, while an 2012 Range Rover Evoque sold for £38,000.

517 buyers were bidding on the auction floor – coming from as far away as New Zealand – while a record 700 bidders were attracted through the firm’s online channels.

Dave Parry, corporate sales director for Manheim, says this demonstrates just how strong the used car market may actually be.

‘The market had shown signs of softening from late September into early October,’ he commented, ‘but the number of buyers attending this sale and CAP values achieved supports Manheim’s view that the used vehicle market is robust enough to weather the current economic storm.’


Jon Reay's avatar

Staff Writer Jon is one of the Car Dealer team's newest members. You can also find him contributing to AOL Cars.

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