Manheim is reporting many commercial vehicle sales recording conversion rates in excess of 80% in the first month of 2016.
Manheim had a record year in 2015, both in terms of units sold and the proportion – one in three – of vehicles sold online, which was 8% higher than 2014. The commercial vehicle buyer base seen in lane and online at was also up on the prior year, by 15%, and many of these new buyers contributed to Manheim’s online sales success.
Matthew Davock, Manheim’s head of LCV, said: “The package that we offer buyers, from upgraded imagery to a great customer experience, has not only seen our buyer base grow significantly year-on-year, but has seen buyers stay with Manheim. Our buyers are incredibly loyal and are helping us to achieve fantastic sales performance for our vendors.
“Manheim has the right stock, in the right sales, at the right price, and buyers are recognising it. Our expert team of commercial vehicle specialists and auctioneers are ensuring that challenges presented by the market are being turned into opportunities to deliver strong results.”
On January 11, Manheim held its inaugural sale at its new Shepshed Commercials auction centre, which benefited from a seven-figure investment prior to re-opening. The Shepshed launch sale produced an 82% conversion rate with 269 buyers in attendance. More than 150 vans were sold, with a combined sale value of almost £1m.
Across Manheim’s nationwide network of commercial vehicle auction centres, conversion rates have thus far exceeded the prior year by up to 20%, with some sales selling 90+% of their total entries.
Following a very successful year in 2015, Manheim’s Gloucester Commercials site now has two sales per week. The new sale will take place on Tuesday afternoons at 2pm. Manheim Gloucester’s two weekly sales will each feature more than 250 vans.
Davock added: “The market place has been extremely strong from the start of the year, with Manheim auction halls being packed with buyers and online flashing away. There have been very healthy attendances at all our seven CV auction centres, with buyers out in force to purchase after a December that was relatively starved of stock.
“Throughout this year, the diversity of the buyer base and its activity will be critical. Manheim’s loyal and growing buyer base means that the UK’s number one commercial vehicle auction company is well-placed to deal with any challenges that the market may present.”