MAG launches Goole LCV auction centre
Motor Auction Group (MAG) has officially opened its new £5m Goole LCV auction centre.
It sold more than 200 used LCVs in the first two sales attracting 150 online buyers from as far afield as the south coast and Scotland, and over 100 physical buyers.
The first sale saw a 100% conversion achieved for its top five vendors and an overall conversion rate of 87% while the second saw its three new vendors sell all their vehicles while the overall sale achieved an 82% conversion rate.
Justin Lane, MAG’s group operations director, said: “We are pleased with the performance of our launch sales. We got our first sale live and operational within less than a week of transferring the LCV operation over from our Bawtry site.
“Our refurbishment and valeting team are live on site and our logistics partners have plenty of space to deliver and collect vehicles. We can’t have asked for a better first few weeks on site.”
LCV market
Meanwhile, Geoff Flood, MAG’s head of LCV said: “The used LCV market remains strong for any vehicle that is between three and five years old in good condition physically and mechanically. The current worldwide economic challenges are working in the favour of the market as buyers are happier to invest in a used vehicle at £10,000 rather than take out finance to fund a new vehicle at £40,000.
“Buyers continue to stay away from vehicles that are in poor physical condition or that need parts due to the delay in getting a vehicle on their forecourt. Some specialist vehicles have been a little slow of late, but generally quarter two looks set to continue in the same positive vein as quarter one.”
