Alex Wright, Sales Director for Commercial Vehicles in Manheim Auctions comments that as the market settles, the commercial vehicle market will stabilise.
Manheim is the world’s largest automotive services company, driving every stage of the used vehicle lifecycle as well as handling almost 10 million used vehicles throughout the world.
Wright believes that the traditional summer season slowdown has failed to help car and van sales, and this combined with age, condition of vehicles and buyers becoming more choosy has added to the current cautiousness of buyers. Subsequently dealers are reducing their holding stock.
Manheim’s Commercial Vehicle team are supporting vendors and buyers by providing the latest market information and advice and promoting the increased use of online sales.
Wright said: “More than 20 years experience of economic cycles has shown us that uncertainty can be temporary and that the somewhat volatile market we are seeing at the moment will settle down as both vendors and buyers become more familiar and comfortable with the changing trading conditions. Does this mean the worst is over? Not necessarily, but I am convinced that the market will settle down in the next few months and we may then begin to see the first signs of stability towards the end of the year.”
Throughout the world Manheim has over 130 remarketing operations in five Continents, including 38 European locations.
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