THE used LCV market is likely to remain steady until the end of September, thanks in part to the good weather much of the UK has enjoyed since July, according to Tim Spencer, commercial vehicle manager at Manheim Remarketing*.
He predicts an upturn in secondhand values from the beginning of the autumn. But the customary slowdown in the holiday season market has seen a slight decrease in the number of buyers visiting auction sites.
Spencer believes that the absence of any major sporting event this year will not distract used-vehicle buyers so the period won’t any less quiet than usual.
At the moment auction centres are full of stock and staging very large sales, in many cases with more than 400 vehicles entered.
But, under analysis, much of the stock is similar and often damaged, says Spencer. This has been the trend during the past few months.
Duplicated stock is a problem for sellers and they are advised to inspect vehicles rigorously for damage and also analyse auction stock to determine how many vehicles are coming on to the market.
Spencer believes a continued period where vehicle prices plateau is probable, so reserves should be set accordingly. He says dealers who fail to do their research thoroughly could be left with stock for an extended period – which could benefit tradesmen looking for a decent used van.
As buyers seek the right LCVs for customers, this build up of stock and absence of seasonal distractions will see good quality and ‘different’ vehicles in demand, attracting strong bids in auction halls and online.
*Manheim provides a national physical auction network in the UK, with 17 centres, seven of which have dedicated commercial vehicle sales.