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Dealers show appetite for older, higher mileage cars

Confidence in online remarketing channels is growing as dealers seem prepared to bid on older, higher mileage vehicles than before.

 

Manheim has compared data from its Simulcast online channel in 2009 with 2006, which shows the average age of vehicles bought in the fleet sector has increased by six months to 43 months with a 23% increase in average mileage.

The findings will be welcomed by fleet operators who have implemented contract extensions on vehicles in the last year.

Manheim’s Simulcast allows buyers to view and bid on vehicles at a physical auction online.

Mike Pilkington, group remarketing director at Manheim, said: "The top 20 Simulcast buyers all buy from us at physical auctions, but 60 per cent of their stock is bought from us online.

"Vehicle information details are valued more than any other when buying online. Older and higher mileage vehicles are being sold online as people’s confidence is growing in products in areas where there may be a risk perceived."

Manheim claims that as long as buyers have access to as much information about vehicles for sale, and that less than one per cent of vehicles sold online are refused on delivery because buyers believe they are not as described.

 

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