Document-breaking first half for LCVs at Cox Automotive
The primary half of the yr has seen unprecedented exercise for used mild business autos (LCVs) pushed by robust demand and ongoing de-fleet initiatives, reviews Cox Automotive.
Between January and June, Cox Automotive’s Manheim Public sale Providers and Manheim Automobile Providers processed a document 50,267 LCVs, marking a 24% year-on-year enhance and the very best quantity ever recorded by the corporate.
Matthew Davock, director of Manheim Business Automobiles at Cox Automotive, commented: “The surge in LCVs getting into the wholesale market throughout Q1 continued into Q2, as owner-operators, leasing corporations, and rental companies changed getting older fleet belongings. We processed 9,562 extra vans within the first half of this yr in comparison with the identical interval final yr, reflecting a robust push to refresh fleets after pandemic-related manufacturing delays.”
Davock added: “Exceeding 50,000 models by mid-year is a exceptional achievement. The sustained purchaser curiosity in these autos, regardless of them being outdoors the everyday purchaser’s very best standards, underscores the excessive demand.”
In Q2, the common age of LCVs within the Manheim community remained at 64 months, with common mileage at 80,785—down 1,270 miles from Q1. Though common promoting costs decreased to £8,164 from £8,763 in Q1, the time to promote dropped by two days, and 70% of autos bought on the primary try. Manheim noticed a 32% enhance in consumers and a ten% rise within the variety of distributors in comparison with Q1.
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