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ANDY PICTON'S AUCTION BLOG: Overall demand remains positive
Date: Tuesday, November 6, 2018
Auction volumes remain steady with traders paying a premium for the best available stock.
On the back of this activity, vendors report steady conversion rates. Demand remains positive overall, with condition and mileage key to most decisions. There are growing volumes of ‘ready-to-retail’ stock while market demand for quality used Euro6 products grows continually.
September recorded a 4.9% rise in used sales at auction, with volumes sold increasing by nearly 1,000 units on the same point last year. Buyers have paid over 15% more on average over this period, and the average age of stock sold fell by 1.4 months to 61.9 months, with average mileage down by 925 miles. First-time conversion rates rose for the third consecutive month to 82.2%.
The Citroen Berlingo is tried and tested with the Enterprise derivative the sought-after model. The best prepared Renault Kangoo, Vauxhall Combo, and Fiat Doblo are also selling strongly. Nevertheless, there is continued oversupply of certain derivatives, leading to average sales prices in this sector falling by more than £650 over the past year.
Trade demand for the 109 and 111 Mercedes Vito with the Renault Trafic engine is low in comparison to its distant French relative, particularly if damaged or with high miles. The smaller volumes of the VW Transporter means it continues to outperform the market, while clean and tidy previous generation Citroen Dispatch and Peugeot Expert models are good value for money. The Ford Transit Custom remains readily available as does the Renault Trafic and Vauxhall Vivaro, with higher-spec models gaining attention. In this popular sector, average sale prices increased by more than £850 over the past year.
Demand for all sizes of crew van continues with significant premiums paid over standard panel vans. These dual-purpose vehicles continue to hit the spot and combine nicely as a work and family vehicle.
In the large panel van sector, supply of clean stock with sensible miles is still an an issue. Anything fitting the bill is near-guaranteed a sale with special attention paid to dropsiders, tippers and Luton vans. The limited numbers are resulting in average sales prices increasing by nearly £400 over the past 12 months.
Meanwhile, there are still too many 4x4s on offer at auction. However, nearly 1,700 found new homes during the month. Top-specification automatic models with extras are the most sought after, with mid-range models often struggling and coming under downward pressure. Workhorse 4x2 and 4x4 single-cab models are scarce and, as a result, sell with ease. This sector has seen average sale prices rise by more than £350 over the past year.
Andy Picton is chief commercial vehicle editor of Glass’s, the used vehicle valuation experts.
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