A budget car sale in July 2017 at Independent Motor Auctions Leeds site saw 91% conversion for its main dealer vendors, with an overall CAP performance of 108.3% of average. Some vendors enjoyed CAP values of 120% of average, following a recent drop in overall vehicle supply which has kept prices and demand high.
Leeds LCV sale has gone from strength to strength and a recent fleet sale saw 100% conversion and 108% of CAP average achieved. With a good mix of stock, the stars of the show have been a selection of VW Caddy Max TDis, achieving over 120% CAP average.
With a predicted shortage of stock until the new plate change, volumes in both the passenger car and LCV segments will be steady and prices will hold until the seasonal downturn around October, where volumes will increase in auction centres.
Justin Lane, Managing Director of Independent Motor Auctions commented: “With a predicted rise in volumes over the coming months, LCVs remains buoyant and we expect a busy Q4 period, with independent motor retailers actively sourcing quality LCV vehicles.
“VW models as usual have maintained a strong following, during this difficult period with Caddy & Transporter sales achieving 111-122% of CAP. The new Ford models have been performing well against CAP, especially vehicles with higher mileage, as CAP value is more realistic.
“LCV’s under £3,000 are desirable, with strong demand for VAT exempt vehicles. As usual, anything that is not white is desirable and this is reflected in the prices that are being achieved at our auctions. Renault Master’s new shape, regardless of condition, has been achieving excellent results against CAP. Sale attendances across all our July auctions have been excellent, with very strong conversion rates.”
Auctions are held in Blackpool on Monday 6pm and Thursday 11am; and in Leeds on Tuesday 11.30am, Wednesday 6pm, Thursday 11am (LCV) and Friday 5pm. Alternatively, trade customers can use Independent Motor Auction’s online bidding platform, available 24/7.
Independent Motor Auctions has auction facilities at Leeds and Blackpool and employs a total of 38 staff across the group. Independent Motor Auctions is a family-run auction business in West Yorkshire and operates from Scotland down to the West Midlands.
Independent Motor Auction’s clients include Arnold Clark Motor Group, ADT, Alliance Healthcare, Burrows Motor Group, British Gas, Cars2 Motor Group, Colin Appleyard Group, Days Fleet, Days Motor Park, Dereck Slack, Jennings Motor Group, John Roe Motor Group, Richard Hardie Motor Group, Sg Petch Group, TC Harrison Leasing, Vantage Motor Group and many more.