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City Auction Group 300-vehicle sale nets £2.75 million

City Auction Group has reported strong performance at its recent auction, with the firm selling 300 vehicles, at a value of a claimed £2.75 million.

The auction results led the market in the first two weeks of June, said City Auction Group, with 80% of vehicles achieving an average CAP clean value of 98%. It reported strong demand for 12 and 13 plates, small to mid-range vehicles with an average of 30,000 miles. 

The top five best performing vehicles were the BMW 316d ES, achieving the highest CAP clean value (118.1%), followed by the Ford Focus 1.6 TDCi (112.8%), BMW 320d SE (109.8%), Jaguar XF 3.0 DS Portfolio (109.7%) and the Peugeot RCZ 1.6 THP (108.3%).

There was also strong demand for hatchbacks, which made up more than half of the vehicles achieving the best price in the top 20 CAP clean list. 

Overall, BMW dominated  the top 20 vehicles, with the BMW Series variants appearing five times and achieving an average CAP value of 109.3%, said the remakreting firm.

Michael Tomalin, managing director of City Auction Group, said: “Feedback from our vendors indicates we achieved the best CAP clean values in the market for the first two weeks of June. Our vendors are committing more corporate vehicles to us than ever before with the introduction of further vendors joining the sale programme very soon. 

"We are planning to introduce weekly auctions from October 2015, as there is clearly demand in the market to support this.”

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