Manheim has confirmed a new deal with the Retail Automotive Alliance, which comprises 22 franchised dealer groups, to remarket used vehicles.
Manheim will offer part-exchange vehicles gathered from the RAA’s 200 dealerships for sale at auction.
It expects to remarket around 1500 commercial vehicles annually, mostly vans, at its dedicated CV centres at Gloucester, Colchester, Haydock, Leeds and Mansfield.
In addition, a new initiative of ‘ready-to-retail’ sales, including over-age stock and higher value part-exchanges, will be offered through Manheim Online. Simulcast, Manheim’s live online link into physical auction, will also ensure these vehicles are made available to a broader buyer base. The two firms have worked together since 2006.
Manheim has reported a convergence in values achieved through online sales and at physical auctions. With the average age of vans bought online increasing by eight months over the year to December, average selling prices fell by £463. In the auction halls average selling prices rose by £814.
James Davis, Manheim’s CV boss, said: “Although the headline price achieved for vans online is still higher than in the halls - £5658 versus £5195 – this recent trend has closed the gap. At the beginning of the year the difference in average values between online and physical auctions was £1516, now it has fallen to just £239.”
Manheim’s average used van values reached a record high of £4424 in November with average age of 65 months and mileages of 86,427.