“As we move into the summer months we are experiencing a seasonal lull for the first time in three years. Buyers are about, but not in as many numbers as we saw at the start of July. Many are there just to see how others are getting on and to ‘chew the cud’. Those vendors who are reacting to these market changes are still getting stock away but those holding out in the hope the market will carry on at the pace it did in previous months will end up with a backlog of vehicles.
We are seeing large, duplicated volumes at the moment and once buyers have them in stock they are not coming back to buy in great numbers, whilst retail customers remain in short supply. With this in mind there is plenty of choice at auction for sensible money. The vehicles that do attract interest are as usual those odd ball, clean, well spec’d ones with and reasonable mileages. Word amongst the trade is that now that the World Cup is over they expect to see a slight uplift but many predict the market will stay fairly quiet until the tail end of the summer holidays.”
Tim Spencer, Group Commercial Vehicle Auctioneer, Manheim Auctions