CITY Auction Group’s latest auction saw 300 vehicles sold, with a total value of £2.75 million.
The auction results led the market in the first two weeks of June, with 80 per cent of vehicles achieving an average CAP clean value of 98 per cent. Demand was strong for 12 and 13 plates, small to mid-range vehicles with an average of 30,000 miles.
The top five best performing vehicles were:
- BMW 316d ES, achieving the highest CAP clean value (118.1 per cent),
- Ford Focus 1.6 TDCi (112.8 per cent),
- BMW 320d SE (109.8 per cent),
- Jaguar XF 3.0 DS Portfolio (109.7 per cent),
- Peugeot RCZ 1.6 THP (108.3 per cent).
There was strong demand for hatchbacks, which made up over half of the vehicles, achieving the best price in the top-20 CAP clean list. Overall, BMW dominated the top 20 vehicles, with the BMW Series variants appearing five times and achieving an average CAP value of 109.3 per cent.
Michael Tomalin, managing director of City Auction Group, said: ‘Feedback from our vendors indicates we achieved the best CAP clean values in the market for the first two weeks of June.
‘Our vendors are committing more corporate vehicles to us than ever before with the introduction of further vendors joining the sale programme very soon.
‘We are attracting large franchised dealer groups, as well as leading car supermarkets and independents. Our auction attendance is growing month by month and we are planning to introduce weekly auctions from October 2015, as there is clearly demand in the market to support this.’
The next auction starts at 9.30am tomorrow.
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