Autumnal weather dampens overall demand, says G3
Director Matt Dale said: 'Online activity continues to be strong and since the beginning of 2010 which included a 23% increase in October alone. However, it is very apparent that the market has softened in recent weeks and with the industry guides adjusting values by around 3% in November we expect the market to remain lukewarm until mid-January.'
November in recent years has seen volume buyers entering the market to boost stock levels at sensible prices prior to the festive shut-down of the industry. 2010 will be no different but G3 warns that this window of opportunity is limited.
‘Vendors need to work with their remarketing partners to maximise returns in the final months of the year,' said Mr Dale. 'Disposal partner have to maintain focus to ensure customers get the best returns. Although the market may be entering its "hibernation" stage, there are still buyers with an appetite, it's just that bit harder to seek them out as concentration switches from the sales floor to the Christmas party dance floor.'
G3 is also warning vendors to make sure that vehicles are sent to auction in good condition. Mr Dale said: 'The demand continues for clean, well-specified vehicles whilst damaged examples remain difficult to place. There is a level which they will sell but the market is awash with standard-spec cars that have suffered considerable hardship during their contract life. It is our opinion that demand for such vehicles will remain limited until early 2011.'