Residual values rise as market strengthens

After an unusually sluggish start to the year in comparison to previous years February has seen a notable surge of buyers both dealer group and independent chasing retail standard product both in the auction halls and online.

MD Michael Tomalin states 'Corporate vendors are delighted with the attendance across the group and many are achieving north of 100% of CAP clean for their dedicated section of vehicles. The lower volume of corporate vehicles could be a major factor and additionally retailers are reporting upturn of forecourt activity'.