'Keep residuals at a sensible level' says Manheim

“Very up and down week so far with some sales being quite tough and others simply 'flying'. There appears to have been no real pattern to the week with some of our vendors enjoying excellent results whilst others have been frustrated.

However, the major buyers are out and about competing strongly in the auction halls and if stock is priced correctly, there is no shortage of bidders.

The retail market appears to have picked up quite well over the past seven days and this has obviously encouraged the buyers to ensure that they have plenty of stock during the Christmas/New Year Period. The seven-seat people carriers and "off road 4x4" vehicles have again proved strong sellers this week but on the whole, anything with reasonable mileage, good colour and condition and service history is being bid on and bought.

The 100,000-mile plus stock is still very difficult to sell simply because of what it is, and probably because there is so much stock with less mileage on offer.

The next two weeks running up to the Christmas period could be an interesting time and I feel that the market will be quite difficult to predict. Some leasing companies have now stopped offering vehicles until the New Year, which could possibly create a lack of stock in the auction halls. However, this may well benefit the companies still offering vehicles up to 21st December.

Buyers, I feel, will still be out there, being competitive right "up to the wire" and prices generally should hold up quite well. My message would be to keep offering your vehicles, keep residuals at a sensible level and don't bids for the sake of an extra £50 - £75. The buyers are there but are not generally in the mood to increase on provisional bids too much.”