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Continued strong demand for Euro 6 commercial vehicles, says Manheim

Euro 6 commercial vehicles continue to attract high levels of buyer interest at auction, while the overall commercial vehicle market remained stable in November.

Latest figures from Manheim show 84% of vehicles sold first-time in October, with average commercial vehicles standing at £6,010, down 0.2% month on month while Manheim also reported slight increases in average age and mileage in November.

The firm’s data also showed the proportion of Euro 6 vehicles at auction continued to grow, representing 22% of Manheim’s wholesale stock in November compared to an average 10% at the beginning of the year.

Director of commercial vehicles Matthew Davock commented: “Market share of Euro 6 vehicles has grown consistently during 2019 and continues to attract high levels of buyer interest.

“As well as being newer, lower mileage stock (average 22 months and 30,000 miles) London’s Ultra-Low Emission Zone has certainly increased demand for Euro 6 in the South, and 53% of Euro 6 stock was bought online in November.”

Manheim’s November figures also show a significant 18% month-on-month increase in average damage per unit.
Davock continued: “Demand was strong in November but high-damage stock still proved challenging in places. Buyers were increasingly selective with their bids as we came to the end of the month, focussing on better-condition stock, a trend I expect to see continue to the end of the year.”

Looking ahead, Davock predicts that the wholesale market will continue its strong run of form to the end of the year.

“Conversations with our buyers suggest that November started well for LCV retailers but softened towards the end of the month,” he added.

“This slow-down is not unexpected in the December market, but there are certainly some notes of caution creeping in as CV businesses consider the likely impact of economic uncertainty and 2020 Q1 market volumes.

“For now though, December wholesale volumes will hold steady until Christmas and demand looks set to remain in line with supply as we come to the end of a very strong year for commercial vehicles.”

Written by Natalie Middleton

Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.

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