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Lancashire-based Norman Law Motors has been trading vans for more than four decades. Since the recession the firm has downsized, bought more new vehicles and remained profitable
Family-run Norman Law Motors, based just outside Colne, Lancashire, started to scale back its activities at the first signs of recession in 2007.
Damian Law, son of company founder Norman Law, says that five years ago the company would have put as many as 15 vehicles a week into the auctions. "Just before the start of the recession a lot of financed and repossessed stock came back into auction."
He adds that stock going into auctions from traders was no longer wanted. "They didn't want to hear from you, but that's why we stuck with Manheim because they understood you needed to trade there to swap stuff and trade out wrong stuff, but almost overnight it stopped.
"There was no point having all these vans around here so we scaled back. We do much less, but still make the same profit. Now it's gone full circle. With the lack of volume in the marketplace the auctions realise trade has some nice vehicles and want us to put them in," he says.
Law attends as many as three auctions a day, buying around 15 vans a week for himself and other used van traders. "I usually get people providing me with a shopping list. If you have a small pitch and you are the buyer, salesman, valeter and the driver as well and there are only one or two vans at auction you want,...