CommercialFleet

Commercial vehicle online remarketing records tumble at Manheim auction

Online remarketing records broken at Hitachi Capital Vehicle Solutions' Manheim auction

An offsite auction run by Manheim of 100 premium Hitachi Capital Vehicle Solutions commercial vehicles set new records for buyer audience, percentage of online bids, highest percentage sole online and hammer value.

The entry of prime stock at the sale, held at Hitachi’s Trowbridge headquarters, was selected for its rarity and included many specialise vehicles such as access platforms, jetter units and even a tractor.

It attracted an audience of 260, 80% of bids were online, 57% of vehicles were sold online and the total value of the sales was £1.02 million.

Fourteen per cent of buyers chose to join the auction action in person with the remaining 226 logging in remotely online via Manheim’s multi award winning Simulcast bidding platform.

All vans had been imaged and inspected electronically for the benefit of online buyers.

Featuring live video and audio streaming of the drive through event, a staggering 8 out of 10 vans received an online bid.

After fierce competition with the physical buyers in the ‘pop-up’ auction lane, 58% of all lots were secured by online buyers.

In total 96% of the lots founds new homes at 112% of Cap value.

Matthew Davock, head of LCV at Manheim, said: “It was amazing to witness and be part of this record-breaking event.

“This variety of stock is rarely seen in the wholesale marketplace in the course of one year, let alone in one place on one day.”

Roger Holder, strategic remarketing manager at Hitachi Capital Vehicle Solutions, said: “This is the third successful offsite sale we have held and it is now one of my favourite events of the calendar.

“It’s a clear demonstration of the partnership we enjoy with Manheim; combining their market making skills with our brand and another batch of premium commercial vehicles.

“It’s a powerful combination that together delivers against our strategic objectives.”

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