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Auction houses announced a flying start to the year reporting stronger than usual attendances at centres.
Manheim Remarketing said its 18 centres were “packed” with buyers in the first couple of weeks trading, following the Christmas break and volumes of vehicles entered for sale rose 4.5 per cent. There was also a 5.3 per cent increase in overall sale price, it said.
Manheim Remarketing managing director Mike Pilkington said: “The strong start to the year clearly shows that demand for used cars and vans remains as robust as ever.
“The increase in both volumes sold and sale prices achieved is very encouraging as is the high average per cent CAP Clean achieved.”
Rival auction house BCA said January so far had seen “exceptional levels of trading” and the second week in January was “one of the best on record for the group”.
BCA sold nearly 14,000 cars, vans and trucks during the week, generating a turnover approaching £70m. It said nearly 3,000 vehicles were purchased by online bidders during that week alone.
BCA communications director Tony Gannon said: “There is a lot of pent-up demand in the marketplace, much of it due to the difficult pre-Christmas conditions affecting wholesale vehicle movements and reduced retail opportunities.
“That pressure is now being released and our remarketing centres and online channels are buzzing with professional buyers looking to replenish their stocks.”