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City Auction Group reports strong demand for small to mid-range vehicles

In total, the event saw 300 vehicles sold, with a total value of £2.3m.   

City Auction Group’s data from the auction shows that 75% of vehicles sold at more than 98% of CAP and that ex-daily rental vehicles performed exceptionally well.

The top five best performing vehicles were the Corsa hatchback achieving the highest CAP value (122.4%), followed by the BMW Saloon (113%), the Vauxhall Insignia (110.7%), Renault Kangoo Maxi (110.4%) and the Renault Twingo Pzaz (109.3%).

It is worth noting that the small vans did very well, with the Renault Kangoo variants appearing twice in the top ten CAP clean list, with the Renault Kangoo Maxi L121 achieving 110.4% and the Renault Kangoo ML19 achieving 107.2%.

Michael Tomalin, managing director of City Auction Group, commented: “The market has cooled off after Easter with demand dropping in line with seasonal norms. The market has changed a little this month.  We have seen an increase in demand for vans, as well as one to three year-old vehicles across small to medium segments, with average mileage. 

“Interestingly the Fiat 500, a hugely popular car achieved only 104.4% and was beaten by the Vauxhall Corsa, recording the top CAP value at 122.3%. A surprise entrant in the top 20 best performing vehicles was the Alfa Romeo Lusso Estate, which achieved a CAP value of 108%. 

The next auction event is at 10am Thursday 30 April 2015.

 

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Natalie Middleton

Natalie has worked as a fleet journalist for 16 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.