Auctions see ‘phenomenal’ rise in used vans at auction

Auctions are seeing a surge of vans entering the market as companies and fleets replace their vehicles.

Sustained demand for used LCVs and continued de-fleet activity within the fleet sector during the first half of the year saw record numbers of vehicles pass through Cox Automotive’s auction and vehicle services operations.

Between January and June, 50,267 LCVs were processed by Manheim Auction Services and Manheim Vehicle Services, a 24% year-on-year increase and the highest number ever recorded by the automotive services company.

Matthew Davock, director of Manheim Commercial Vehicles, Cox Automotive said: “The flood of LCV product into the wholesale market seen during Q1 persisted throughout Q2 as many owner-operator, leasing and rental players continued to replace their ageing fleet assets.

“Overall, we processed 9,562 more vans in H1 than in the same period last year, a remarkable increase and a clear indicator of how desperate operators have been to refresh their fleets following the post-pandemic production shortages.

“To exceed 50,000 units by the halfway stage of the year is phenomenal and buyers’ appetite for these vehicles has shown few signs of abating despite their profile being outside of the typical buyers’ ideal criteria.”

The average age of LCVs seen in the Manheim network during Q2 was again 64 months, and the average mileage was recorded at 80,785, an encouraging reduction of 1,270 miles on that seen in Q1.

Despite average selling prices easing in Q2 in comparison with Q1 (£8164 vs £8763), days to sell reduced by two days and 70% sold first time. Manheim recorded 4,233 buyers during the quarter, a 32% increase on Q1, and a 10% increase in the number of vendors selling stock.