Manheim Auction Services, a part of Cox Automotive, has delivered a record-breaking third quarter, with business vehicle sales volumes up 23.2% on Q2.
The corporate’s strong performance got here despite ongoing market challenges, as rising costs and longer vehicle lifecycles proceed to affect operators.
Across its UK sites, vans sold faster than ever, averaging just 11.2 days to sell.
First-time conversion rates rose to 85.2%, up 6.2% on the previous quarter, while average selling prices increased 5.1% to £8,590. July marked a milestone month, achieving Manheim’s highest-ever monthly sales.
Used electric vans also saw rapid growth, with volumes sold up 51.7% on Q2.
These vehicles were younger at 27.2 months on average and sold for 15.6% greater than within the previous quarter.
Conversion rates for BEVs reached 75.8%, reflecting growing confidence within the used EV market.
Manheim’s vendor base also expanded, reaching 477 energetic vendors in Q3, a 17.4% year-on-year rise.
Matthew Davock, director of business vehicles at Manheim UK, said: “This quarter, we saw buyers arrive more informed than ever, tracking values and mileage closely and bidding with precision.
“Combined with better-prepared vehicles and smarter release strategies, Q3 exceeded expectations.
“Our Gloucester operation also played a key role, processing greater than 8,000 business vehicles through its two dedicated lanes.”
Fleet and rental operators are actually extending van lifecycles from 36–48 months to around 60 months or more, driven by cost pressures and market uncertainty.
This has led to more older, higher-mileage stock entering the market.
Davock added: “Running vans for longer is comprehensible given current conditions and the upcoming Autumn Budget.
“Nonetheless, operators should consider that lower-mileage vehicles are attracting stronger prices, making timing crucial in fleet disposal strategies.”
This Article First Appeared At www.am-online.com
