SPIKE: Manheim gear up for big October
Manheim are predicting a huge increase in vehicle supply to the UK wholesale market during the next six weeks following the September plate change.
Fuelled by the increase in defleeted company cars and the seasonal influx in part-exchanges, the remarketing specialists are expecting a 20% rise compared to average monthly supply.
In the lead up to the anticipated surge in wholesale stock, Manheim have invested significantly in their infrastructure.
While the company have re-opened and extended their Coventry site, all major facilities now benefit from all-weather inspection canopies.
Manheim have also invested in robust new online technology to simplify virtual bidding, enhanced their vehicle grading system to adhere to NAMA’s recommendations and updated their appraisal process.
Chris Cush, Operations Director at Manheim, said: “Good business practice is all about understanding where the market is going and changing your operation to suit.
“That is precisely what we have been doing over the past year.
“We’ve won a number of great new accounts in the last few months, which have along with seasonal trends, seen us delivering record numbers of vehicles to the motor trade.
“While we’ve been achieving some staggeringly good values at auction in recent months – where 99% of CAP clean is no longer a remarkable result – we need to be realistic about the changing market and the impact that more supply will have on values.
“While we are investing heavily to maintain customer satisfaction and speed of sale in our business, and industry leading RVs for customers, we can’t deny the laws of supply and demand that will surely see values soften as we approach Christmas.”