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22
nd
November 2011
Used truck values at highest values since 2006, reports Manheim Remarketing
Manheim Remarketing’s new 5-year Market Analysis shows that used truck average values are at
their highest levels since 2006 and reached a peak of £6,574 in the first quarter of this year. The
lowest average value of £3,804 was recorded in Q3 2009. When compared with Q3 2006 the
average value in Q3 2011 of £5,986 is 23.3% (£1,133) higher. Over this same period there is
something of a contradiction with average age reducing by 24.1%, from 133 months to 101 months
but average distance covered increasing by 7.3%, from 215,482 to 231,307 kilometres.
Brian Rossington, National HGV and Plant Manager, Manheim Remarketing said: “As we move into
the final quarter of 2011 there is still a severe lack of vehicles from fleets and hauliers. Buyers are
searching further afield than ever before and online buyers are logging on in ever larger numbers
with online bidding playing a significant part in every auction. Late registered, low mileage trucks are
highly sought after, specifically Euro 4 and 5. Export demand is holding up well with the most
popular trucks being 3 axle tractor units and multi axle tippers. Surprisingly certain utility vehicles
are being sought after again, especially those in good condition and with low mileage. Recently
there has been a considerable volume of refuse vehicles coming into the market and these have
been readily absorbed for good money. Speaking with buyers, they generally describe the market
as steady with the London Low Emission Zone changes in January 2012 helping the market along
nicely in recent months. Demand for Euro 4 vehicles has certainly far outstripped supply.”
James Davis, Director of Commercial Vehicles, Manheim Remarketing added: “The wholesale
market performance for used trucks closely mirrors the fortunes of UK Plc and the worldwide
economy in terms of export demand. There is no doubt there has been an incredible drought in
supply following the distress sale of trucks as we entered recession when distribution fleets
downsized rapidly. Since then we have been selling younger trucks with higher mileage. This
reflects the assets having to work harder combined with a shift in model mix with sales of tractor
units leading the recovery in new vehicle registrations.”
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Ends
About Manheim
Manheim is the world’s largest automotive services company and, through its unparalleled range of
products and services, drives every stage of the used vehicle lifecycle. Winner of 14 industry
awards for both service and performance excellence since 2005, including Best Remarketing
Company four years in a row, Manheim handles nearly 10 million used vehicles worldwide,
facilitating transactions representing more than $50 billion in value.
Manheim is a subsidiary of Atlanta-based Cox Enterprises Inc., one of the world’s leading media
companies and providers of automotive services. Throughout the world Manheim has over 130
remarketing operations in five Continents, including 38 European locations. In the UK, there are 3
business divisions:
Manheim Remarketing: providing a national physical auction network, comprising 18 centres of
which 8 have dedicated commercial vehicle activities; a dedicated trade-only direct sales channel; 3
online bidding /sales channels. It includes the brands of Manheim Auctions and Manheim Direct.
Manheim DeFleet Services: providing vehicle inspection; asset management and recovery service;
SMART repair, reconditioning and pre-sale preparation; transport; logistics; full defleet management
and outsourced end-of-contract administration. It includes the brands of Manheim SMART Repair,
Manheim Inspection Services and Manheim Asset Management.
Manheim Retail Services: providing retail marketing support including dealer websites, used car
stock locators, professional vehicle photography, showroom systems, sales lead management
software and innovative aftersales customer contact systems. It includes the brands of Manheim
Retail Marketing (formerly Portfolio), Manheim Lead Management (formerly e-GoodManners) and
Manheim Aftersales Solutions (formerly RTC) and Carmony.co.uk.
For further information, please contact:
Andrew Andersz
JJ (for Manheim)
Tel: +44 (0)1865 343100
Email: [email protected]
Website: www.manheimremarketing.co.uk