Used car conversion rates and prices hit record levels at Aston Barclay in September, in particular for ex-fleet stock.

Martin Potter, Aston Barclay’s Auctions MD

First-time conversion rates across the board were at a record of 92.5% – 3.6% ahead of August, which was a previous record, and 4.14% ahead of September 2020.

Ex-fleet stock continues to be the star of the show with 100% conversions a regular occurrence and the most recent sale at Donington reporting a price performance average of 111% of CAP Clean.

On a typical £10,000 fleet car, that means fleet vendors have made an extra £1,100 during September – although the volume of stock being offered for sale remains at around 60% of pre-semiconductor crisis levels. That compares with CAP HPI’s reported rise in values for September on a typical three-year/60,000 fleet car of 5.9% which is equivalent to £860.

Aston Barclay continues to remarket fleet and OEM stock online but with buyers still able to view stock physically prior to sale. In many cases, stock is being sold remotely from de-fleet centres to save on transport and ultimately this month on fuel. Meanwhile, dealer part-exchanges are still being driven through the halls for physical buyers across its network.

The strong used fleet and part-exchange market saw first-time online and physical conversion rates reach 93.7% and 93.1% respectively during the month.

“After August’s summer holiday slow down, dealers have come back into the market very strongly. The shortage particularly of ex-fleet stock is driving conversion rates and prices to record levels although all areas of the market including high mileage stock is experiencing a price increase,” explained Martin Potter, Aston Barclay’s managing director – customer.

“The September new plate part-exchanges generally don’t start appearing at auction until early October, but we expect many of these used cars will be retailed by dealers as they struggle to keep forecourts full,” he added.

Alongside used cars, LCV conversion rates remained strong in September, with prices rising slightly after a quieter August period. Aston Barclay’s dedicated Leeds LCV auction and weekly LCV sales at both Donington and Westbury are seeing strong bids, both online and physical, on ex-lease, council and finance stock.

And with some manufacturers quoting new LCV delivery delays of up to 12 months, Aston Barclay said the market is likely to stay this way at least until 2023.