Tuesday, October 07, 2008
Used car sales boost for September market
Despite reports of plummeting car dealer confidence, used car prices at Manheim auctions rose in September for the first time in eight months.
Figures show that year-on-year values were up by £212 (3.5 per cent) to £6,280 and volumes rose by four per cent.Lower price brackets, generally made up of part-exchange vehicles, also saw increases with vales up by 3.6 per cent or £62 in August to £1,787.First-time auction conversion rates were also up from 69 per cent to 74 per cent, indicating dealers should be able to find buyers for their part-exchanges if realistically priced."There has undoubtedly been more activity in the wholesale market in September as dealers anticipated an upturn in demand following the holiday period," said Mike Pilkington, managing director of Manheim Auctions and Remarketing.
"However, we still need to be very cautious about any long term recovery at the moment."
DATED: 07.10.08
FEED: MT
Figures show that year-on-year values were up by £212 (3.5 per cent) to £6,280 and volumes rose by four per cent.Lower price brackets, generally made up of part-exchange vehicles, also saw increases with vales up by 3.6 per cent or £62 in August to £1,787.First-time auction conversion rates were also up from 69 per cent to 74 per cent, indicating dealers should be able to find buyers for their part-exchanges if realistically priced."There has undoubtedly been more activity in the wholesale market in September as dealers anticipated an upturn in demand following the holiday period," said Mike Pilkington, managing director of Manheim Auctions and Remarketing.
"However, we still need to be very cautious about any long term recovery at the moment."
DATED: 07.10.08
FEED: MT
