Manheim extends deal with Group 1 Automotive for LCV inclusion

Group 1 Automotive has expanded its remarketing partnership with Manheim, which will now include LCVs.

Its new commercial vehicle deal will complement the dealer group’s current auction programme, which has 14,000 cars listed each year.

The new agreement will see the CV auction company offers 400 LCVs per year at its Colchester auction centre.

The first auction will take place tomorrow (25 September).

Darren Guiver, managing director, Group 1 Automotive, said: “We began our partnership with Manheim in 2008, and since then we’ve seen our auction events go from strength to strength.”

“Manheim’s CV team has a fantastic reputation for industry knowledge, customer service, and innovation, and we’re very much looking forward to working with them as we build our new CV auction programme.”

Manheim’s LCV team had growth across its online auction channels before this deal was agreed.

In August, it was announced that vehicles had sold an average three days faster year-on-year because of strong online sales.

Manheim recorded an 8% increase in LCV volume year-on-year, with higher numbers of daily rental and fleet and leasing vehicles available at auction.

Stock mix remained consistent with recent months, and average age and mileage held relatively steady, it says.

Three-quarters (77%) of LCVs offered by Manheim in July were sold at the first time of asking, up 3.2% month-on-month, and Manheim recorded a slight improvement in performance against guide price (up 0.7%).

Peter Bell, managing direction, Manheim, said: “At Manheim we take pride in our ability to build long-lasting partnerships with our customers, and I’m delighted that Group 1 Automotive has chosen to expand its remarketing programme to include LCV.

“Group 1 Automotive will be offering highly desirable LCV stock that will certainly attract the interest of our buyers, and I look forward to seeing the success of the new auction programme.”