PRICES of 'run of the mill' lower and upper medium cars must fall to attract buyers, a leading auctioneer has told fleet managers. Sales and conversion rates at Manheim Auctions have increased this month, according to Andrew Shepherd, senior group auctioneer.

He reported attendance, prices and conversion rates were down last month with the market flat compared to the first quarter of the year. But business has picked up according to Shepherd, who said: 'Vendors are coming into line with market prices and the recent gulf has closed considerably.'

But he stressed the importance of treating the market on a day-to-day basis. He said: 'There are so many run of the mill Mondeos, Vectras, Rover 600s, Xantias, Lagunas and Almeras and only so many buyers for them that prices need to be lowered.'