LEADING UK auction house firms are reporting stronger than ever starts to New Year trading.
Manheim Auctions’ 18 centres have all reported strong starts, with attendances both in lane and online being stronger than usual.
The firm says that demand has been strong across all sectors, with a 4.5 per cent increase in volume of vehicles going under the hammer compared with the same period of 2010.
A 5.3 per cent increase in overall sale price has also been experienced by Manheim, who say that the used car market’s strength is reinforced by the fact that vehicles sold so far this year have achieved an average of 97.8 per cent CAP Clean.
Mike Pilkington, managing director, Manheim Remarketing said: ‘The strong start to the year clearly shows that demand for used cars and vans remains as robust as ever. The increase in both volumes sold and sale prices achieved is very encouraging as is the high average per cent CAP Clean achieved.’
Meanwhile BCA have also experienced strong trading, with the second week of January being touted as one of the strongest ever for the company.
The auction house firm sold nearly 14,000 cars, vans and trucks during the week, generating a turnover approaching £70m.
Online sales also performed well with nearly 3,000 vehicles being purchased during that week alone.
BCA’s communications director Tony Gannon said: ‘There is a lot of pent-up demand in the marketplace, much of it due to the difficult pre-Christmas conditions affecting wholesale vehicle movements and reduced retail opportunities. That pressure is now being released and our remarketing centres and online channels are buzzing with professional buyers looking to replenish their stocks.’