Mazda hits 119% CAP rate at Manheim sale

The first closed auction run by Manheim dedicated to Mazda vehicles has sold 149 vehicles (of 150 on offer) at a total of £1.83m. A highlight of the event was the sale of a Mazda2 Hatchback sold for 119% of the CAP Clean rate, notable at a time when industry figures are questioning used car valuations. In November, CAP reported internet purchases by independents are on the rise, forcing used-vehicle buyers to travel further in the open market and the majority of bidders at the January auction, 27 of 51, took part online by simulcast.

The first closed auction run by Manheim
dedicated to Mazda vehicles has sold 149 vehicles (of 150 on offer)
at a total of £1.83m.

A highlight of the event was the sale of a
Mazda2 Hatchback sold for 119% of the CAP Clean rate, notable at a
time
when industry figures are questioning used car valuations.

In November,
CAP reported internet purchases by independents are on the
rise, forcing used-vehicle buyers to travel further in the open
market and the majority of bidders at the January auction, 27 of
51, took part online by simulcast.

The auction was part of an ongoing agreement between the
Japanese carmaker and the automotive services giant including a
CyberAuction programme, as well as use of the Manheim Direct
wholesale channel and Manheim Retail Marketing.

richard.brown@vrlfinancialnews.com