Attendances at auction during August and early September were surprisingly strong with buyers out in force stocking up on the best vehicles available.
Volumes available at auction were stable, while demand was for ‘retail’-spec stock.
The auctions returned a 15.2% increase in sales, up 5.9% up on the same point last year, with 78% of those sold at the first time of asking. The average sale price increased by 0.2% over the period, while a reduced vehicle age of 2.1% is reflective of the demand for younger, fresher, cleaner and more fuel-efficient stock.
Light vans such the Fiat Doblo, Renault Kangoo and Vauxhall Combo performed well, regularly selling to ‘Guide’ when presented straight and with sensible miles. Extra equipment such aircon and metallic paint near guaranteed a sale.
As has been the case for the whole of 2017, the most sought-after stock has been two- to four-year-old medium panel vans. This age range accounted for nearly 39% of all sales at auction in August, with the Ford Transit Custom, VW Transporter, Renault Trafic and Vauxhall Vivaro having a loyal following.
If you search hard enough there are some gems to be had in the large panel van sector, but they are few and far between, with the majority continuing to be offered in a hard-worked condition.
The 4x4 sector has seen conversion rates tumble from 76% to just over 71% over the past 12 months, an indication that supply and demand is out of kilter. However, values did show signs of firming, which hopefully will be a springboard to a stronger performance as we move towards the winter months.
Andy Picton is chief commercial vehicle editor of Glass’s, the used vehicle valuation experts.