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Don't panic!
Page 67
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ILIUM
Lots of used trucks are about to hit the market as their buyback contracts expire, but CVA boss
Chris Wright isn't worried about residuals.
ribout three years ago many truck manufacturers came to their senses, scrapped short-term buyback-based :et supply deals and started writing contracts Ith a duration of at least 36 months. Many of those time-served vehicles will be f-loaded onto the used market in the coming onths,says Chris Wright.MD of Cornmeril Vehicle Auctions (CVA), and they'll be Ipearing in blocks of 20 or 30 hut he says ere's no need to panic.
"Not many dealers will be able to cope with ose sorts of numbers at a time, but they'll sensibly priced, which means they'll have every chance of selling at auction," he explains. "They should appeal to the operator with a five, six or seven-year-old truck who wants something younger, but can't afford new.
"He'll be in a position to afford them because he'll be able to get a good price for his old vehicle," Wright adds.That's thanks to eager bidders from overseas and their UK agents.
They look like providing the same boost to the used truck market this year that they did in 2003, he says: "Their activities mean that older trucks that might otherwise have only fetched i1,500 at auction are now going for £4,000 to £6,000. "They're after 3-Series and early 4-Series Scanias, Volvo FL1Os -not that there are any to be had FlOs,F12s, and FHs.They also want eight or nine-year-old MAN 18.403s anc 22.403s, and fridge and flat trailers.
"What they buy goes to Eastern Europe, Saudi Arabia, and Malaysia, among other destinations," he explains.
In the wake of a recent sale that saw no less than 455 trucks and trailers come under the hammer -CVA's biggest-ever-Wright is bullish about the used market:"People are ringing us for vehicles all the time. I think it wi be buoyant for the rest of this year." •