"It rarely gets much better than this," says auctions expert
26 September 2006
Fleet managers able to dispose of cars currently on their fleet are being urged to act quickly and take advantage of exceptional demand for good ex-corporate stock.
Simon Henstock, BCA operations director, said: "Motor retailers are telling us that demand for used cars is high but stock is thin on the ground. There is a shortage of corporate stock and if anyone is sitting on supplies of used cars wondering what to do with them, get them in the market and sold. It rarely gets much better than this."
Henstock said the demand was capable of turning certain models from "great to exceptional RV performers". But even volume brands such as Ford and Citroen are selling well and diesel is "incredibly desirable".
While many fleets will be locked into three-year finance cycles, companies that have bought product outright or those reaching the end of an agreement may be in a position to cash in. Experts expect the current market conditions to last until mid-October when demand will ease and rental returns hit the market.
Mike Pilkington, managing director of Vehicle Remarketing Solutions, said: "Now is a good time to sell vehicles while stock is short and the consumer remains relatively resilient, despite recent interest rate rises. We have seen unprecedented demand from dealers for nearly-new and used vehicles."