Strong Demand Continues at G3 Remarketing
With an on-going shortage of quality used vehicles available for disposal buying activity remains seasonally strong with clean, well-specified examples continuing to demand premiums.
Online vehicle disposal company, G3 Remarketing experienced some impressive online figures during its most recent online auction with 386 registered buyers viewing a total of over 10,000 vehicle pages in just one 8-hour period. Conversion reached 88% whilst performance just topped 100% CAP across the board.
“Considering the volume of vehicles G3 currently handles, the online activity demonstrates that there is still a substantial demand within the marketplace. Online activity has increased by 37% in September alone as dealers struggle to commit time to resources to attend physical auctions.
We accept that conventional routes to market have also experienced increases in attendances and results but as the market enters its historic quiet final quarter, the pressure will be on dealers to concentrate on sales rather than replenishing stock. Those who continue to utilise online purchasing channels have the greater possibility to capitalise on retail opportunities.” Matt Dale, Director
Overall the outlook remains unclear for the short-term used vehicle market “As we reported in early August, we expected the market to rally until late September/early October. This has provided a welcome relief for all considering the stagnant summer months which were unremarkable. We predict that volumes will increase over the coming weeks and envisage consumer demand to drop slightly”