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Used commercial vehicle sales rise

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Wednesday, 11 March 2009
Category: Commercial fleet

The number of used commercial vehicles sold in February received a much-needed boost, according to EurotaxGlass's.

George Alexander, editor of Glass's Guide, claimed that the number of used commercial vehicles sold last month shot up as a result of large vendors reducing their prices dramatically.

Vendors took to selling their vehicles with little or no reserve price, convincing buyers to bid their maximum price, he said.

The rises in the sale of used commercial vehicles is good news for fleet buyers, as increased circulation could lead to higher sale prices for their own commercial vehicles.

A higher resale value on commercial vehicles could allow companies hoping to sell their fleets to aim higher in terms of their new fleets, as they can expect larger revenues for their outgoing vehicles.

"The major contributing factor has most likely been that the big vendors have slashed their reserve prices, or even moved to selling without reserve," said Mr Alexander.

"Risk-averse company owners - typically bankers - are being very active in instructing them to cash out the inventory and fill the coffers."

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