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Overcrowding causes havoc
Page 96
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• Severe overcrowding problems are being experienced at auction sites up and down the UK according to CAP Red Book's latest report on the used commercial market.
The problem is being caused by operators disposing of surplus vehicles, and a significant number of finance house repossessions being offered for sale. There are also a lot of unsold light and heavy vehicles left on sites from previous sales.
"In addition to the obvious problems overcrowding creates, there have been reports of minor damage to vehicles and pilfering in recent weeks. It would therefore, not be surprising to see auction centres taking a tougher line when it comes to the removal of vehicles following sale days," says the Red Book.
"Prices are falling at a quicker rate than is usual for the time of year and this means the climate is not right for speculation on less popular models, with the cautious erring toward stocking only best sellers.
CAP reports trade in heavies remains quiet, despite the increase in vehicles on the market in the past few weeks. It says the main problems appear to be the tendancy for dealers to buy below book values because of the poor state of the market.
The used vehicle price guide's information on tractor units indicates a poor market with many late models being sold for ridiculously low prices.