Manheim Auction Services’ commercial vehicle division had another successful quarter, with overall asset sale values growing by 7% year-on-year.
Demand and buyer confidence remained consistently strong throughout a highly competitive quarter.
Matthew Davock, Commercial Vehicles Director at Manheim UK, said: “We are seeing challenges in the new market filtering through to the used. On one hand, low new van registrations for the past 12 months are compressing the supply of young, low mileage stock. Meanwhile, the attractive deal structures and discounts on new 26-plated vans are putting pressure on late-plated product values.
“The good news for buyers, however, is that signs point towards a busy Q2, as we anticipate a further boost in volumes from fleet, rental and finance providers.
“While overall supply remains tight, this uplift will provide greater variety and choice for buyers, maintaining competition and momentum as the spring marketplace develops.”
Average selling prices increased by £1,827 (up 24.7% year-on-year), with vans achieving an average selling price of £9,226. First-time conversion rates reached strong averages at 82.7%.
Engagement across both physical auction lanes and digital channels remained high.
Stock between Grades 1 and 2 with less than 70,000 miles on the clock were the highest in demand.
Grades 1 and 2 vehicles outperforming guide values on average (112.3% and 109.6%, respectively).
Registrations remain under pressure, with delayed fleet replacement cycles, fiscal changes impacting pick-ups and a complex economic environment, resulting in growing strain on supply and residual values.
De-fleeted van stock brought younger, lower-mileage assets to the market. The average age of vans reduced by 7.6 months and mileage by 10,555 miles.
Manheim’s electric van programme exceeded records in March.
Volumes of electric stock increased by 97% year-on-year and over 70% sold first time, a positive signal from the market.
