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ANDY PICTON'S AUCTION BLOG: Unengaged buyers in June 2019
Date: Thursday, August 15, 2019
Softer retail activity continues to impact demand.
Buyers seem less engaged, with any stock offered in volume or looking tired or damaged being difficult to shift. Increases in stock availability have meant similarly specified vehicles not professionally managed into the marketplace have seen prices come under further downward pressure.
Euro6 stock accounted for under 10% of all sales at auction last month. Most buyers are still happy trading-in vehicles of at least two years old, resulting in the general oversupply of stock and reductions in sale prices in each of the four main sectors versus May. The average first-time conversion rate also fell by 3.7% versus May and 12.2% versus June 2018.
For light vans, the Citroen Berlingo, VW Caddy and Ford Transit Connect up to three years old were available in good supply, while the three- to five-year old versions generated good prices. Older Renault Kangoos, Fiat Doblos and Transit Connects continue to perform well.
Average sale prices in the medium van sector are nearly £1k lower than May.
Even the best-presented higher-spec Ford Transit Customs are struggling to find the same level of acceptance. An oversupply of late-plate PSA and VW vans is not helping the performance of newer-plate vehicles. Tidy previous-generation Citroen Dispatch/Peugeot Expert/Toyota Proace models, plus Vauxhall Vivaros and Renault Trafics, have little trouble finding buyers.
Large FWD 290 and 350 Ford Transits attracted lots of attention, with those in colour and with sensible miles selling strongly. Higher-spec Citroen Relay, Peugeot Boxer and Renault Master models continue to prove popular.
Too much similar stock continues to blight the 4x4 pick-up sector. High-spec Ford Ranger Wildtrak, Nissan Navara Tekna and Toyota Hilux Invincible models with auto ’boxes are relatively easy to shift, but the VW Amarok Highline and Fiat Fullback have generally underperformed.
Andy Picton is chief commercial vehicle editor of Glass’s, the used vehicle valuation experts.
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