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Commercial vehicle sale values up 7% in Q1 at Manheim Auction Services

Demand and buyer confidence remained consistently strong throughout a highly competitive quarter.

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Manheim Auction Services has reported a successful quarter for its commercial vehicle division, with overall asset sale values growing by 7% year-on-year, as the UK used van market continues to demonstrate strength.

It said that demand and buyer confidence remained consistently strong throughout a highly competitive quarter.

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, as retailers competed for limited used stock.

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Stock between grades one and two with less than 70,000 miles on the clock were the highest in demand across Manheim’s portfolio.

This was reflected in grades one and two vehicles outperforming guide values on average (112.3% and 109.6%, respectively).

Manheim said that these results were delivered against the backdrop of a subdued new van market.

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It also said that registrations remained 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.

Matthew Davock, commercial vehicles director at Manheim UK, said: “We are seeing challenges in the new market filtering through to the used.

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“On one hand, low new van registrations for the past 12 months are compressing the supply of young, low mileage stock.

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“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.”

Despite ongoing wider supply industry challenges, the quality of stock entering Manheim’s lanes improved year-on-year as de-fleeted van stock brought younger, lower-mileage assets to the market, according to the company.

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The average age of vans reduced by 7.6 months and mileage by 10,555 miles.

Volumes of electric stock increased by 97% year-on-year and over 70% sold first time.

Davock added: “It’s been a really encouraging start to the year.

“We’re seeing strong confidence from buyers, improving stock quality coming through the lanes and excellent outcomes for our growing customer base.

“Despite deeper market challenges, the used van sector continues to prove its resilience, and it’s great to see such positive momentum carrying into Q2.”

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