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Mitsubishi policy boost to residuals

Mitsubishi is to roll out its direct used car sales programme on a national basis as soon as suitable sites for the events can be found.

Three weekend sales have been held - at Manheim Auctions buildings in Mansfield, Bristol and Leeds - with more than 50% of the cars on display sold.

Matthew Cheyne, Mitsubishi UK sales manager, said the events had proved popular with participating dealers who take commission on each car and handle part exchanges. They had supported residual values - Cap Monitor was now quoting Carisma at 61% to 62% after 12 months, he said, “a far better figure than Mondeo or Vectra”.

Mr Cheyne said direct used car sales would play a key role in Mitsubishi's future strategy, alongside internet and telemarketing operations. “If the traditional routes to the customer disappear you have to think about how you reach them. You can no longer rely on the customer coming to you,” he said. Stock for the direct sales is coming from Mitsubishi fleet buy-backs and central supply.

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